Montenegro's Ambitious EU and Eurozone 2028 Membership Plan
Montenegro aims to join the EU and euro zone by 2028, as stated by Prime Minister Milojko Spajic. To facilitate this, Montenegro is focused on meeting EU Commission criteria, boosting institutional frameworks, and issuing new government bonds. Economic growth has doubled recently, raising challenges around revenue and debt projections.
Montenegro's Prime Minister, Milojko Spajic, announced the country's hopeful aspiration to join the European Union and the euro zone by 2028. This move signifies potential progress for the EU's currently stalled expansion into Eastern Europe.
Following Russia's 2022 invasion of Ukraine, the European Union has been keen to incorporate new members, aiming to eliminate 'grey zones' outside its borders. Spajic emphasized Montenegro's economic growth over the past five years, highlighting plans to issue fresh government bonds to institutional or retail investors as part of their economic strategy.
Despite impressive GDP growth and increasing salaries, challenges remain. Montenegro must meet the EU's institutional criteria for membership and maintain compatible inflation rates. Additionally, there's scrutiny regarding the government's revenue and debt forecasts. Spajic, a former Goldman Sachs analyst, remains optimistic regarding Montenegro's financial strategy and independency of its central monetary policies.
(With inputs from agencies.)
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