Podgorica, (MINA-BUSINESS) – According to Gojko Maksimovic, Director of Financial Markets at Hipotekarna Banka, accession to the European Union (EU) reduces fiscal and macroeconomic risks, making it realistic to expect an improvement in Montenegro’s credit rating as the integration process accelerates.

“I am confident that EU accession funds and other EU financial resources will also generate multiplier macroeconomic effects, and that, together with stricter public finance controls and clear political stability, this will improve Montenegro’s credit rating,” Maksimovic stated in an opinion piece published on his LinkedIn profile.

He believes that every improved assessment by rating agencies results in more favourable borrowing conditions for the state. Currently, there is no EU member state with a non-investment-grade credit rating, with the last such case occurring during the Greek debt crisis in 2010. 

“It may be overly optimistic at this moment to expect Montenegro’s credit rating to quickly achieve investment-grade status, but with increased efficiency of public administration, this could become attainable in the first years of membership,” Maksimovic said.

According to him, all future steps in the EU accession process would have positive effects on both public and private finances.