Podgorica, (MINA-BUSINESS) – Predrag Sekulic, MP of the Democratic Party of Socialists (DPS) has said that negotiating Chapter 17, focusing on the economic and monetary union, could be among the last ones to be closed because of the complexity of benchmarks, adding that this process is expected to boost the efficiency in the management of public finance.
“Bearing in mind the complexity of benchmarks and the fact that Chapter 17 was the last one to have been opened, in last June, it can be expected that it will be among the last ones to be closed,” Sekulic told Mina-business agency.
Sekulic, who chairs the parliamentary Economy, Finance and Budget Committee, said that harmonization of Montenegrin legislation with the European Union acquis in the field of economic and monetary union would contribute to a more efficient and transparent economic policy and management of public finance.
Sekulic reminded that Montenegro had opened negotiating Chapter 17 at an inter-governmental conference in Luxembourg in June 2018, adding that it was an important step on its European integration path towards a successful fulfilment of the European Agenda.
According to Sekulic, the challenges related to closing this chapter include the fulfilment of the obligations assumed in line with European rules and standards, as defined in the clearly formulated benchmarks.
He said that the benchmarks were related to the development of an action plan for harmonization of the national legislative framework with acquis in the field of economic and monetary union, ensuring the independence of the Central Bank (CBCG) in order to define its status, goals, function and tasks, and prevent direct financing of the public sector.
“The benchmarks prohibit privileged access of the public sector to financial institutions and require complete integration of the CBCG into the European Central System Banks,” said Sekulic.
He concluded that harmonization of Montenegro’s legislation with the EU acquis in that field would have a positive effect on the economic environment in general, contributing to the stability of prices and fiscal stability.
This article was published with the financial support of the European Union available within the framework of the project “Dealing with Ethics and Fake News” IPA2018/397-252. The Mina agency assumes full responsibility for its contents, which do not necessarily reflect the position of the EU.
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