Official Statistics Is Key for Creating Effective Policies
11/11/2024
High-quality, reliable statistics are crucial in formulating policies that achieve concrete and measurable results, underscoring the need for continuous improvement. This was highlighted in a meeting between the CBCG Governor, Dr. Irena Radović, and Eurostat Director-General, Dr. Mariana Kotzeva.
Today’s meeting emphasized the importance of official statistics and their producers in Montenegro’s EU negotiation process. Both officials agreed that producing internationally comparable statistics, methodologically aligned with EU standards, is essential to supporting the integration process.
Governor Radović stated that the CBCG, one of Montenegro’s official statistics producers, leads Chapter 17 – Monetary and Economic Policy and actively contributes to meeting Chapter 18 – Statistics requirements. In this regard, the CBCG is working intensively to align its statistical standards with EU requirements, including those of Eurostat and the European Central Bank.
“Completing the regulatory framework for implementing the ESA 2010 methodology, which covers monetary and financial statistics, has set preconditions for substantial improvements in statistics to meet Eurostat and ECB requirements,” the Governor said. She also emphasized that the new bank reporting method, already in use and developed with support from the Bank of Slovenia and the Croatian National Bank, provides detailed access to data for reporting to EU partners. The Governor stated that the CBCG’s priority is to ensure that its data is internationally comparable and relevant to national economic policies and strategic plans.
Director-General Kotzeva praised the CBCG’s efforts to enhance the quality and integrity of the data under its competence, noting that the dedication and close collaboration among Monstat, the CBCG, and the Ministry of Finance are key for Montenegro’s integration into the European statistical framework and, ultimately, into the EU.
The two officials agreed to intensify cooperation to develop Montenegro’s official statistics further to accelerate the pre-accession process.