Montenegro is taking steps to establish commodity reserves and is currently updating its emergency procurement plan. A study undertaken by the Faculty of Economics, along with the Draft Law on Commodity Reserves, is expected to be finalized by April.

This information was shared during a press conference by Jasna Vujović, the Director General of the Directorate for Internal Market and Competition.

Vujović mentioned that initiatives have begun to refresh the data in the new emergency procurement plan with the support of the UNDP project, as well as to revise the data from the previous study conducted by the Faculty of Economics for the Government in 2022.

“We are currently refreshing the financial aspects and data concerning commodity reserves. We’re also in the process of drafting the Law on Commodity Reserves. We anticipate these tasks will be completed by April,” Vujović stated. She emphasized that findings from the study indicate the necessity of reserves for ensuring economic security and maintaining price stability.

Minister of Economic Development Nik Đeljošaj commented that their approach is both planned and strategic, and that they are laying the legal groundwork for the establishment of commodity reserves.

News