This paper examines public financial management in Montenegro, with a particular focus on budget preparation, execution and reporting. Montenegro’s public financial management system is supported by a well-articulated legal and institutional framework, but significant implementation challenges remain. While the country has made progress in aligning its budgeting practices with OECD and EU standards, further reforms are necessary to enhance fiscal discipline, budget transparency, and policy alignment. This paper focuses on ways to strengthen existing arrangements to improve the quality of the country’s system of budgetary governance.
