Minister of Finance and CBCG Governor Attend the IMF/WB Dutch-Belgian Constituency Meeting in Skopje


24/06/2019

Minister of Finance in the Government of Montenegro, Mr Darko Radunović and Governor of the Central Bank of Montenegro, Mr Radoje Žugić took part at the annual meeting of the Dutch-Belgian Constituency of the International Monetary Fund and the World Bank, held from 21 to 23 June in Skopje. 


At this year's meeting, opened by the Prime Minister of North Macedonia, Mr Zoran Zaev, the capitalism and the ways in which this economic system can contribute to the common good were discussed. Improvements in national fiscal policies and financial stability as well as investing in human capital, which, in participants` opinion, can contribute to reducing the differences in the level of achieved economic development in individual countries were also argued. Discussing this topic, the Governor Žugić estimated that investing in human capital must have a significant position in the budget of each country.


"Today, in time of globalization and accelerated technological development, understanding the impact of education on the allocation of income is important for preparing and implementing the policies in terms of inclusive and sustainable economic development," said Žugić, adding that there is significant scope for further progress in extending the approach to basic education, health care and the establishment of a welfare system in the Western Balkan countries.


The Constituency meetings are held once a year and represent an opportunity for finance ministers, central bank governors and other high-level officials of the member states, together with representatives of the IMF and the World Bank, to discuss globally relevant economic and financial issues.