Jakov Milatović, a dynamic Montenegrin politician and economist, assumed the presidency of Montenegro at the young age of 36. His inauguration on Saturday, May 20, 2023, marks a significant moment in the country’s history, as Milatović becomes the youngest leader to hold this position.
Born on December 7, 1986, in Titograd, SR Montenegro, SFR Yugoslavia, Milatović’s early ambitions were evident even during his school years at Gymnasium “Slobodan Škerović.” Coming from a family with a rich history of military and political involvement, his drive to become Montenegro’s President within a decade was well-known. His father, a founding member of the Socialist People’s Party (SNP), faced employment challenges due to his opposition to the Democratic Party of Socialists (DPS).
Milatović pursued his undergraduate studies in economics at the Faculty of Economics of the University of Montenegro. He expanded his knowledge and international experiences through various prestigious fellowships, including those at Illinois State University, Vienna University of Economics and Business (WU Wien), and Sapienza University of Rome (La Sapienza). Completing his MPhil in economics at St John’s College, Oxford, Milatović also gained valuable insights as a fellow of the German Konrad Adenauer Foundation. His fluency in English, as well as proficiency in Italian and Spanish, enhances his ability to communicate on a global scale.
With a solid professional background, Milatović worked at NLB Group Podgorica and Deutsche Bank in Frankfurt. Joining the European Bank for Reconstruction and Development in 2014, he specialized in economic and political analysis, eventually becoming the principal economist for EU countries. Throughout his career, Milatović has contributed to publications and co-authored books, solidifying his expertise in economics and politics.
Milatović’s political journey gained momentum when he served as the Minister of Economic Development in the Krivokapić Cabinet from December 4, 2020, to April 28, 2022. During his tenure, he collaborated with Finance Minister Milojko Spajić to implement the “Europe now” economic reform program, which generated both support and controversy.
In 2022, Milatović and Spajić founded Europe Now political party, aiming to bring forth a fresh perspective to Montenegrin politics. Participating in the 2022 local elections, Milatović led Europe Now’s electoral list in Podgorica as the mayoral candidate. With a significant portion of the popular vote, Milatović was poised to become the mayor of Podgorica.
Milatović’s presidential campaign in 2023 marked a turning point in his career. As a replacement candidate for Europe Now in the Montenegrin presidential election, he secured a resounding victory in the run-off against incumbent President Milo Đukanović, capturing the support of 58.88% of the population.
Zaklinjući se danas u ovom visokom domu, u Skupštini Crne Gore, dajem zavjet da ću predano raditi za boljitak Crne Gore i kao prvi među jednakima stajati čvrsto na braniku njenog ustavno-pravnog poretka.
— Jakov Milatovic 🇲🇪🇪🇺 (@JakovMilatovic) May 20, 2023
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As Montenegro embraces its youngest president, Milatović’s inauguration on May 20, 2023, signifies a new chapter for the country. His vision for economic development, political reform, and international cooperation promises to shape Montenegro’s future. With his youthful energy and fresh perspective, Milatović is poised to lead Montenegro into a new era of progress and prosperity.
