Montenegro President Jakov Milatović met with representatives of the International Monetary Fund (IMF) mission currently visiting the country, describing the state of the Montenegrin economy as concerning.
He emphasized that citizens face some of the highest prices in Europe for basic goods, with inflation being the primary issue, compounded by slow economic growth. Milatović noted that more than half of Montenegrin employees earn less than €800, and the real value of the average salary has dropped by €40 compared to last year.
Milatović criticized stagnation in key sectors, highlighting that tourism, traditionally a growth engine, has declined for two consecutive years. The trade balance is worsening, with exports covering only 13% of imports. State-owned enterprises suffer from mismanagement and political appointments, including losses at the national electricity company and questionable management of Montenegro’s airports.
He called for a focus on economic growth, investments, and secure jobs, emphasizing that the EU represents the country’s largest development opportunity. Milatović outlined four pillars for economic development: agriculture, energy, IT, and tourism, with small and medium-sized enterprises serving as the engine of growth.
He stressed the need for responsible management of state assets, transparency, and zero tolerance for corruption, arguing that full citizen trust is essential to achieve EU membership and improve living standards. Milatović concluded by urging decisive action to demonstrate Montenegro’s economic strength, governance, and societal confidence in its future.
