Press release: IMF mission will provide technical assistance to the Ministry of Finance

Minister of Finance, Radoje Žugić PhD, with staff, met today with the delegation of the International Monetary Fund led by Sami led by Sami Yläoutinen, Technical Assistance Advisor in the Fiscal Affairs Department of IMF.

This is a technical support mission financed by the Government of Japan, aimed to strengthen fiscal management in South Easter Europe countries.

Mr. Yläoutinen informed the Minister on core objectives of the mission which will result in recommendations dealing with additional improvement of the fiscal framework aimed at strengthening its credibility.  Furthermore, the mission will provide technical support to the Ministry of Finance in form of recommendations and practical advice for improvement of the debt management capacities, as well as for improving the fiscal reporting.

After expressed gratitude for the support, the Minister Žugić informed representatives of IMF about the present economic situation in Montenegro, pointing to an increased fiscal consolidation, budget stabilisation and plan to increase revenues, i.e. to find modalities on establishing sustainable system of public finances.  Moreover, IMF representatives were informed on commitment of the Government of Montenegro to create good grounds for long-term economic growth and inflow of foreign direct investments.

Several meeting will be organised during the mission, which will last until 12 April, with representatives of various institutions in order to better understand the existing financial management system, and to define next steps in its improvement.