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The government will utilize the Growth Plan to achieve the development of the Montenegrin economy

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The government will use the Growth Plan instrument to achieve long-term growth and development of the Montenegrin economy, announced the Minister of European Affairs, Maida Gorčević, adding that they have identified and formulated reform measures in that direction.

She stated that these measures relate to the business environment and the development of the private sector, digital and energy/green transition, and human capital development.

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“In addition, priority is given to reforms within the first cluster, especially reforms in the rule of law area, which are crucial for implementing the Reform Agenda,” Gorčević said.

She participated in an informal meeting of European affairs ministers of Western Balkan countries dedicated to the Roadmap and real actions related to the Growth Plan, in preparation for the Regional Summit of Leaders on the Growth and Convergence Plan, which will be held in Tirana at the end of February.

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Gorčević reminded that, as a result of intensive work and consultations with the European Commission (EC), the Government adopted the draft Reform Agenda during the first week of December last year, containing key measures in four policy areas and 22 sub-areas.

She said that the goal of the Reform Agenda is to implement measures related to improving the business environment, facilitating access to finance for companies, as well as implementing measures related to improving the regulatory environment and strengthening the competitiveness of the business sector.

“The Government of Montenegro aims to continuously provide a set of financial and non-financial support mechanisms for further development of the private sector, thus improving the competitiveness of the economy. Creating conditions for easy operation of small and medium-sized enterprises and creating an attractive business environment affect their competitiveness, which further contributes to the long-term growth and development of the Montenegrin economy,” Gorčević stated.

She said that, aiming to improve financial support to the small and medium-sized enterprise sector, the introduction of a new financial instrument in the form of a Credit Guarantee Fund is planned, and that, in the direction of improving the overall competitiveness of the business sector, the Government of Montenegro is dedicated to reducing administrative and regulatory burdens for companies, through legislative amendments and engagement of both competent institutions and business associations.

Gorčević concluded that the funds from the Growth Plan will be valuable but not sufficient to achieve convergence with the EU market, and that it is important that all other available EU support instruments, such as IPA and the Western Balkans Investment Framework (WBIF), must remain active and strengthened to help the economies of the Western Balkan countries approach the level of the EU single market.

The Ministers of European Affairs of the Western Balkan countries agreed that the Growth Plan represents a key platform for accelerating integration into the EU single market and overall reforms in the EU accession process. During the meeting, opinions were exchanged on joint growth actions, coordinated policies, and common initiatives aimed at ensuring success in implementing the Growth Plan and the overall EU accession process.

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