The Ministry of Economic Development has protected Montenegrin citizens from inflation through effective policies, announced Vice Prime Minister for Economic Policy and Minister Nik Đeljošaj, who also promised additional financial support for the economy.
“The Ministry played a key role in closing three negotiation chapters with the European Union (EU) and has tailored its economic policies to the state of the economy to shield Montenegrin citizens from inflation. We have achieved excellent results in this area,” said Đeljošaj at a working breakfast with media representatives, presenting this year’s results.
Đeljošaj emphasized that the Ministry has been dedicated to improving the economic environment, encouraging entrepreneurship, reducing unemployment, and promoting sustainable economic growth, as reported by the PR Center.
He noted that by closing Chapters 7, 10, and 20, a significant step was made towards full EU membership.
“This is not only a technical achievement but a confirmation of our determination, unity, and hard work, which is leading us toward a more modern and prosperous society,” he said.
He added that the closure of Chapter 20, focusing on Entrepreneurship and Industrial Policy, symbolizes the Ministry’s vision for strengthening the economy and entrepreneurship.
“Chapter 10, which deals with the information society and media, marks our decisive step toward a digital future. With the adoption of the Law on Electronic Communications, we improved the regulatory framework, ensured fair competition, and created conditions for more affordable and better-quality telecommunications services,” said Đeljošaj.
Chapter 7, which pertains to intellectual property rights, ensures that the results of intellectual work are protected according to European standards.
Montenegro has made significant progress toward macroeconomic stability, as reflected in impressive results. The country’s Gross Domestic Product (GDP) grew by 6.3% last year, a clear indicator of improving citizens’ living standards.
He also highlighted another key economic indicator that shows the strengthening of Montenegro’s economy: a significant decrease in unemployment, which dropped to a record low of 11.5% in the second quarter of this year.
“In October, we recorded a reduction in the annual inflation rate to 1.2%, which further proves successful economic management and price stability. According to Monstat data, the monthly inflation rate for October was 0%, meaning prices have remained unchanged compared to September,” explained Đeljošaj.
He emphasized that consumer protection is one of the most important aspects of Montenegro’s economic policy.
“One of the key steps we are taking in this area is implementing the ‘Limited Prices’ action, aimed at capping price increases for over 70 products that are of particular importance to public health and well-being. We have also seen a drop in prices in the category of food and non-alcoholic beverages, with the inflation rate for these products being negative,” said Đeljošaj.
He reminded that the Ministry, as part of the obligations arising from Chapter 3 – Right to Establish Enterprises and Freedom to Provide Services, launched the “Single Contact Point” portal in June, significantly simplifying the process of starting a business and accessing the service market in Montenegro.
“However, our task cannot be limited to opening up to Europe; we are also working to position Montenegro as a reliable partner on the global stage. That is why we signed a Memorandum of Economic Cooperation between Montenegro and the United States,” Đeljošaj added.
He announced that in the coming period, the Ministry would intensify its activities on European integration, “as this is our key priority.”
“Additionally, we will secure increased financial support for our economy through traditional support programs. We are also excited about the opportunity to successfully present Montenegro at the Expo 2025 in Osaka,” concluded Đeljošaj.
