Jakov Milatović (Cyrillic: Јаков Милатовић, pronounced [jakoʋ mǐlatoʋitɕ]; born 7 December 1986) is a Montenegrin politician and economist who is the incumbent president of Montenegro, serving since May 2023. He previously served as the minister of economic development in the cabinet of Zdravko Krivokapić from 2020 to 2022, and as an economist at the European Bank for Reconstruction and Development in London and Podgorica. He was a co-founder and until 24 February 2024 the deputy leader of Europe Now!, a liberal and pro-European political party that is the largest single party in the Montenegrin parliament.
Taking office in a landslide presidential election at the age of 36, Milatović is the youngest person to hold the office of president in independent Montenegro, as well as the world's sixth-youngest serving state leader. He is the third president of Montenegro since the country's independence in 2006. He has made improving living standards, tackling corruption, and the accession of Montenegro to the European Union by 2028 his central issues.
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Early life and education
Milatović was born on 7 December 1986 in Titograd, SR Montenegro, SFR Yugoslavia, where he graduated elementary and secondary school Gymnasium "Slobodan Škerović". In 2005, he wrote in his high school yearbook his ambition to become the president of Montenegro within ten years. His grandfather and great-grandfather fought in World War II as members of the Yugoslav Partisans. His great-grandfather had also participated in World War I and had fought in the Battle of Mojkovac in 1916. His father was a unionist and one of the founders of the Socialist People's Party (SNP). Milatović claimed his father couldn't find employment due to his opposition to the Democratic Party of Socialists (DPS).
He completed his undergraduate studies in the field of economics at the Faculty of Economics of the University of Montenegro. He then spent one academic year at Illinois State University as US Fellow; one semester at the Vienna University of Economics and Business (WU Wien) as Government of Austria Fellow; and one academic year at the Sapienza University of Rome (La Sapienza) as EU Fellow. Milatović completed his MPhil in economics at St John's College, Oxford. He was a British Government Chevening Scholarship Fellow. He was also a fellow of the German Konrad Adenauer Foundation. Besides his native Serbian, Milatović is fluent in English, and speaks Italian and Spanish.
Economics career
Milatović worked at NLB Group Podgorica, and Deutsche Bank, Frankfurt. In 2014, he joined the European Bank for Reconstruction and Development in the team for economic and political analysis. In 2019, he was promoted to the principal economist for the EU countries, including Romania, Bulgaria, Croatia and Slovenia, and was based at the Bank's office in Bucharest. He has published a number of articles and co-authored two books.
Political career
Minister of Economic Development (2020–2022)
He served as the minister of economic development in the Krivokapić Cabinet from 4 December 2020 to 28 April 2022. During his term, Milatović and finance minister Milojko Spajić presented and implemented the controversial "Europe now" economic reform program. The reform program aimed to increase the minimum wage, reduce taxes and social contributions, attract foreign investment, and accelerate Montenegro's integration into the European Union. The program was popular among the public and boosted the public approval of Milatović and Spajić.
Europe Now! and 2022 local elections
In 2022, Milatović and Spajić founded the Europe Now political party, with Spajić as president and Milatović as deputy president. It participated in the 2022 local elections, with Milatović heading the organizations electoral list in Podgorica as its mayoral candidate. The list won 21.7% of the popular vote and Milatović was expected to become the mayor of Podgorica.
2023 presidential campaign
In March 2023, Milatović ran as a replacement candidate of Europe Now in the 2023 Montenegrin presidential election after Spajić's candidacy was rejected by the State Electoral Commission (DIK) as it was discovered that he is a dual citizen of Serbia and Montenegro. He was elected president following his landslide victory against the incumbent president Milo Đukanović in the run-off on 2 April 2023. Milatović won 58.88% of the popular vote. He stated that his first foreign visit will be to Brussels.
Presidency (2023–present)
Milatović was sworn in on 20 May 2023 in the Parliament of Montenegro in Podgorica instead of the traditional inauguration place of Cetinje. His inauguration was attended by numerous Balkan leaders such as Aleksandar Vučić, Zoran Milanović, Željko Komšić, Željka Cvijanović, Denis Bećirović, Vjosa Osmani, Bajram Begaj, and Galab Donev. Milatović was also congratulated by Pope Francis.
In June 2023, Milatović stated he expected Montenegro to join the European Union by 2027 or 2028. In August 2023, he met with Ukrainian president Volodymyr Zelenskyy in Athens, stating that Montenegro "openly and strongly condemns Russia's unprovoked aggression against Ukraine."
On 28 August 2023, Milatović said that the "winning energy" after his presidential election had been "shattered" by the disagreements over the new government formation, appealing to the prime minister-designate Spajič and everyone participating in the consultations on the formation of the new government to make the process "more transparent and in accordance with the electoral will".
On 24 February 2024, Milatović announced he would be leaving PES!, following a split with Spajić.
Political positions
His political positions have been described as centrist, while some describe him as a populist. Milatović voted for the independence of Montenegro at the 2006 independence referendum. Prior to entering politics he voted for SNP, Democratic Montenegro and the For the Future of Montenegro (ZBCG) coalition.
Foreign policy
Milatović supports the accession of Montenegro to the European Union. He advocates closer relations between Montenegro and Serbia. He supports sanctioning Russia due to its invasion of Ukraine, which he considers an act of aggression. Milatović called the proposals of Montenegro revoking the recognition of Kosovo's independence unrealistic, stating that Kosovo is an internationally recognized country. He stated that he agrees with the International Court of Justice's verdict on the Srebrenica genocide. He supports the Open Balkan initiative.
Minority issues
Milatović has voiced support for minorities in Montenegro. He reached out to minority communities within the country to start a dialogue, with the intent of creating an environment of equal opportunities. He has also voiced support for the Roma minority in Montenegro, expressing hope that they may be represented in Parliament of Montenegro.
LGBTQ issues
In June 2023, Milatović met with LGBTQ groups such as Queer Montenegro. This came only a month after such groups had refused to meet with the Minister for Human and Minority Rights, Fatmir Gjeka, in response to his failure to make progress on LGBTQ initiatives. In the wake of the meeting, he stressed that Montenegro is a country of equal rights for every citizen and that there shouldn’t be any kind of discrimination. He pointed out that Montenegro has often been an unsafe country for the LGBTQ population, but vowed to do what he could to protect such groups.
Immigration
Milatović has voiced support for immigrants in Montenegro, such as pointing out that "the international community often replaces preventive responses with reactionary measures— the migration crisis in the Mediterranean region is just one example." He also highlighted examples of Montenegro supporting immigrants in the past, such as when Podgorica gave shelter to 100,000 refugees and displaced persons during Yugoslav Wars. Furthermore, he drew attention to Montenegro's support of immigrants from Ukraine.
Personal life
Milatović is married to Milena Milatović. They have three children together. He is a Serbian Orthodox Christian and was baptized in the Ostrog Monastery, however he considers his religious views a private matter. He identifies himself as a Montenegrin by ethnicity, and speaks Serbian.
Honours
Foreign honours
Italy: Knight Grand Cross with Collar of the Order of Merit of the Italian Republic (18 February 2025)
Sovereign Military Order of Malta: Collar of the Order pro Merito Melitensi (17 March 2026)
France: Grand Cross of the National Order of the Legion of Honour (4 June 2026)