Executive Director of the World Bank Rugenat: Vuković Has the Vision and Courage for Reforms, Montenegro Can Be an Example to Others

The Executive Director of the World Bank, Južin Rugenat, stated that Montenegro can serve as an example to other countries, praising the vision and courage of Finance Minister Mr. Novica Vuković in implementing reforms. He assessed that the head of Montenegro's finance sector has many reasons to be proud of the achievements of his department and announced continued strong support from the World Bank. Rugenat especially congratulated Minister Vuković on the results achieved by the Ministry of Finance under his leadership, highlighting progress in public finance reforms, strengthening fiscal discipline, and fighting the gray economy. He emphasized Montenegro's success in combating the gray economy and illegal trade, including stronger measures against cigarette smuggling, noting that Montenegro's experience in this area could be useful to other countries. In this context, Vuković informed Rugenat that Montenegro, with the support of the Dutch government, will open a Financial Academy next year, aimed at improving financial knowledge and capacities of citizens, institutions, and the broader economic system. During a cordial and successful meeting, the European integration process was also highlighted, with Vuković emphasizing that Montenegro's goal is not only to close negotiation chapters but to create capacities for the country to fully utilize the opportunities of EU membership. It was agreed that the next phase of cooperation should focus on linking reforms with stronger development results, especially through investments, energy and green transition, digitalization, climate resilience, modernization of the financial system, and further strengthening of institutions.