Partnership with UNDP as an example of efficient and constructive collaboration

November 15, 2023


The Government of Montenegro sees UNDP as one of its most important partners in public finance reform, directed towards comprehensive transparency in public finances in line with EU-oriented standards – emphasized Finance Minister Novica Vuković during his first official meeting with UNDP Resident Representative in Montenegro, Ekaterina Paniklova.

During the meeting, it was noted that the existing partnership with UNDP serves as an example of efficient and constructive collaboration, and efforts will be made to further enhance its comprehensiveness in the future.

Paniklova highlighted the longstanding and fruitful partnership between the UNDP and Montenegro’s Ministry of Finance. She expressed UNDP’s unwavering commitment to aiding Montenegro’s journey towards EU membership and promoting sustainable economic growth. Paniklova emphasized the Ministry’s focus on advocating for a green, inclusive economy vital for sustainable development and improving public finance management to enhance fiscal transparency and accountability. She noted the UNDP’s readiness to support the Ministry of Finance in its critical work on this path through the future initiatives, and ongoing joint project for enhancing transparent and accountable public finance management in Montenegro, co-funded by the Slovak Ministry of Finance and jointly implemented by Montenegro's Ministry of Finance and the UNDP. She stressed that Montenegro’s progress towards Agenda 2030 is dependent on strengthening domestic financing for achieving the Sustainable Development Goals (SDGs). To support further alignment of national policies and SDGs, UNDP will support the exercise of SDG Budget tagging, contributing to the proper planning, implementation and reporting for SDG targets.

Minister Vuković stated that one of his main goals in the coming period is to strengthen internal capacities and increase the efficiency of the institution he leads. He expects UNDP's expert support in creating strategically important documents in the field of public finances, such as the Fiscal Strategy and Public Debt Management Strategy.

Among the priorities for future collaboration, Minister Vuković highlighted the continuation of the project “Strengthening Transparent and Accountable Public Finance Management in Montenegro”, the development of legal solutions regulating accrual accounting, program budgeting at the local level, and the implementation of the FINTECH strategy.

Minister Vuković emphasized the government’s full commitment to creating a favourable investment environment, a precondition for all key programs planned by the current government.

It was concluded that the details of continued collaboration will be defined in subsequent operational meetings and regular communication between the Ministry of Finance and UNDP.