WIIW The Vienna Institute for International Economic Studies - Wiener Institut für Internationale Wirtschaftsvergleiche

Amidst political turmoil, Montenegro managed in 2023 to achieve considerable growth of 6%. This owed much to a record tourist season, the influx of Russian and Ukrainian immigrants and improvements on the labour market. Starting as it does from such a high base, 2024 will likely see a slowing of growth to 4.2%. A range of cross-cutting reforms aimed at increasing salaries and pensions is likely to boost consumption; but it will also place a strain on public finances. EU integration is back on the agenda of both the government and the EU. However, political stability may be tested during the planned government reshuffle in 2024.