Governor Radović at the Economic and Financial Dialogue of the EU: Dedicated to the European Dialogue
14/05/2024
The CBCG Governor, Ms Irena Radović, attended the Economic and Financial Dialogue of the European Union with candidate countries and potential candidates, held today in Brussels under the patronage of the European Union’s Commissioner for Economy, Mr Paolo Gentiloni. The Economic and Financial Dialogue is held annually, and it gathers high officials of candidate countries and potential candidates for EU membership who meet with representatives of EU member states, the European Commission and the European Central Bank.
Participants at today’s meeting discussed the economic situation and current challenges in the candidate and potential candidate countries and the European partners’ guidelines for conducting the fiscal, economic and social policy of these countries to encourage growth and gradual adapting to the economic criteria for EU accession. It was highlighted that against the backdrop of still high uncertainty fuelled by the war in Ukraine, maintaining the Economic and Financial Dialogue is of utmost importance in defining adequate policies to strengthen resilience and improve the national economies’ economic growth.
To accelerate economic recovery and gain faster progress towards EU membership, the Western Balkan countries are encouraged to use the financial support provided in the Growth Plan for the region, conditioned by the development and fulfilment of annual reform agendas. The decisive implementation of structural reforms is crucial for faster economic convergence of Montenegro and the region, was the message of the meeting in Brussels.
Governor Radović expressed her satisfaction with the European partners’ evaluations that Montenegro’s banking sector is stable, along with significant progress made in harmonising domestic banking regulations with relevant EU directives. “CBCG is committed to the European integration process as a key step towards strengthening the Montenegrin economy and the convergence with the EU. We continue to implement the reform agenda to realise the recommendations of our European partners as soon as possible”, said Governor Radović.
Later in the day, the Governor met with the Chair of the European Payment Council, Mr Javier Santamaria. They discussed the activities related to expanding the SEPA geographical area to Montenegro that would improve the Montenegrin financial ecosystem, encourage economic integration and facilitate cross-border payments for citizens and the economy.
The Governor also discussed this topic with the European Commission officials.
Brussels, Economic and Financial Dialogue