The EU Budget and the New Economic Future and their effects on Montenegro

In the Forein policy magazine programme „FOKUS“ on the state broadcaster Radio i Televizjia Crne Gore (RTCG):
The EU Budget and the New Economic Future and their effects on Montenegro, with Mr. Tonino Picula, European Parliament Rapporteur for Montenegro (1’-19’) and Prof. Danijela Jaćimović (19’-38’) of the Faculty of Economics of the University of Montenegro.

Isidora Šoć discussed the effects of the New budget perspective 2021-2027 and its efects on the Region and Montenegro with Prof Jaćimović. Commenting on the new financial framework of the EU and challenges in reaching the final decision, Prof. Jaćimović stated that:
“The pandemic has affected the creation of a new economic model, which we must face in 2021 and beyond. With nostalgia as citizens, economists and politicians we can look towards a new period, but we must be aware that the future brings constant uncertainty and change, so it is necessary to build capacity for adjustment and adaptability to the constant changes that await us.

We are facing serious structural changes and difficult adjustments, in which economists and politicians, and the private and public sectors, must cooperate in order to start transforming the existing economic system into a more digital and green one.”

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Analyzing the Budget in Montenegro for 2021: Prof. Jacimovic pointed out that, during the crisis, the old traditional macroeconomic rules were abandoned, where the IMF suggested that excessive aid withdrawals can have a negative impact on the economy, so maintaining minimum spending must be the basis for the new budget.

The budget must be suited to the pandemic (in that we preserve what can be preserved) but it must also be post-pandemic, which should enable the transformation towards a more technological and green economy, and the adjustment so that jobs are as good as possible: financially and healthier.

When attracting EU funds, we will encounter serious political rules, where the priorities are the rule of law and the fight against corruption, where we must convince our EU partners that we want European values and that we will finally start realizing them.

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