The Ministry of Finance and the Government of Montenegro remain strongly committed to combating the shadow economy, increasing transparency, and creating fair business conditions, which will further strengthen budget revenues and support sustainable economic growth, said Finance Minister Novica Vuković.
Speaking at a session of the Parliamentary Committee on Economy, Finance, and Budget, Vuković highlighted a significant achievement: revenues from excise taxes on tobacco products increased by 162%, rising from €45.56 million in 2020 to €119.45 million in the previous year.
According to the Ministry, Vuković noted that the market is recovering strongly thanks to decisive action against illegal trade and key measures implemented by the Government. Preliminary data shows that the share of the illicit tobacco market dropped to between 10% and 15% last year.
Johns Hopkins University professor Jeffrey Drope praised Vuković’s efforts, calling him a model leader in the region and globally for fiscal discipline and effective tobacco market regulation.
The session focused on the role of fiscal policy measures in enhancing effective tobacco control in Montenegro. Praise for the Ministry’s work also came from senior representatives of the World Health Organization (WHO).
Mina Brajović, Head of the WHO Office in Montenegro, commended Minister Vuković for introducing fiscal measures to tax tobacco products and control illegal trade. She emphasized his commitment to national leadership and described him as a visionary example for others to follow in efforts to protect public health, increase budget revenues, and break the cycle of addiction promoted by the tobacco and nicotine industries.
