Delegation of the IMF is paying a visit to Montenegro in order to obtain current information on the state of play of economy, opportunities and policies within the framework of annual consultations, according to Article 4 of the Fund Statute.

Current economic situation, policy of sustainable public finances, situation in the banking sector, extent of public debt and ways of decreasing it, gray economy, fiscal risks, tax policy and challenges of Montenegrin economy in the following period were discussed at the meeting.

Chairman of the Committee acquainted the interlocutors with the work of the Committee on Economy, Finance and Budget, with its wide competences, and especially stressed the strengthening of the oversight role of this working body in the process of adopting the state budget and improvement of procedures regarding the monitoring of the state budget implementation by including other working bodies of the Parliament.

He especially emphasized the importance of adopting the new Law on Budget and fiscal responsibility for the stabilization of financial system that would constrain excessive borrowing and provision of guarantees. He also pointed out to the need for introduction of a financial transactions tax, i.e. taxation of payments, through adoption of the new law.

The IMF Mission is to visit Montenegro again in May.