Montenegro's new president is Jakov Milatovic

"Penalty for a new beginning" is the title of the Montenegrin newspaper Vijesti the day after the second round of the presidential election. Current President Milo Djukanovic, leader of the Democratic Party of Socialists (DPS), is finally stepping down after a political career spanning more than thirty years, during which he alternated between the positions of president and head of government, making him one of Europe's longest-serving politicians. Jakov Milatovic, a member of Europe Now (PCE), won the second round by a significant margin of 70,000 votes over the sitting president. According to preliminary data, Milatovic received 60.1 percent of the vote, while Djukanovic received 39.9 percent. Milatovic will take office on May 20, when Djukanovic's term expires.

With the results of the April 2 presidential election, DPS and Djukanovic find themselves out of power in Montenegro. The erosion of support around the party that ruled Montenegro for more than thirty years has become irreversible. After losing the parliamentary elections in the summer of 2020, in a complete pandemonium, and after failing in various local elections, they are now leaving the presidency as well.

Milatovic, who at 37 was just 5 years old when Djukanovic came to power in 1991, became active in politics after the 2020 elections, serving as Minister of Economic Development in the government of Zdravko Krivokapic. While in this government, the economic plan "Europe Now" was published, from which his party took its name, and which is one of the reasons for the popularity of Milatović's movement and its success. With the plan, the minimum wage was raised from 222 to 450 euros and the average wage from 530 to 630, although some economists have criticized it, warning of excessive debt and the risk of bankruptcy.

"I will focus on economic diplomacy. I believe that by gathering experience gained abroad, I can attract the attention of successful investors from all over the world, whose presence in Montenegro has unfortunately been insignificant so far. Special attention in my international activities will be paid to direct contacts with potential partners, which during my mandate will compensate for missed opportunities and become a regional center of investment," the new president said.

With regard to the European Union, the PCE candidate said that Montenegro should become its member in the next five years.

The results of the presidential election are likely to influence further political processes in the country, especially the parliamentary elections scheduled for June 11.

According to political analysts, Milatovic's victory will give a new impetus to the party and reduce support for Djukanovic's party.

Who is Jakov Milatovic?

Jakov Milatovic was born in 1986 in Podgorica, where he graduated from primary and secondary schools. He graduated from the Faculty of Economics at the University of Montenegro and was an exemplary student of his generation. He has received many national awards and fellowships abroad. As a fellow of the American government, he resided at the University of Illinois, as a fellow of the Austrian government at the University of Vienna, and as a fellow of the European Commission at the University ofRome. He earned a master's degree in economics from Oxford University, thanks to a scholarship from the British government.

He worked at NLB Bank, Deutsche Bank and then the European Bank for Reconstruction and Development (EBRD). He has also gained experience and training at the Konrad-Adenauer-Stinfund, London School of Economics, Peking University, Stanford University Leadership Academy and others. He has authored numerous professional articles and co-authored two books. He served as Minister of Economic Development in the Government of Montenegro from December 2020 to April 2022. He speaks English, Italian and Spanish. He is married and the father of three children. Source: Vijesti