Podgorica, (MINA-BUSINESS) – In cooperation with the Organisation for Economic Co-operation and Development (OECD), the Ministry of Finance has officially launched a project to introduce a new spending review tool aimed at strengthening fiscal discipline, transparency, and efficiency in the field of public finances.

According to a press release from the Ministry, the project marks an important step toward modernizing Montenegro’s budgetary practices, in line with international standards and OECD recommendations.

“The OECD concluded that the country would benefit greatly from the gradual introduction of this tool and recommended a pilot review in a sector with high fiscal impact and reliable data availability,” the Ministry stated in a press release.

To that end, two-day working meetings were held between the Ministry’s expert team and OECD experts, focusing on the project goals and strategic framework, and a capacity-building workshop was organized to share international practices and plan concrete activities.

Addressing participants, Minister of Finance Novica Vukovic said that this initiative opens a new chapter in managing taxpayers’ money.

“Spending reviews are a key tool for optimizing public expenditures and strengthening fiscal sustainability. We expect this project, with the support and expertise of the OECD, to further build Montenegro’s capacity for strategic management of public finances,” Vukovic said.

The working meetings concluded with the expectation that the project will lead to reduced inefficiencies in spending, improved budget planning, and stronger institutional capacities in public finance management.