The forecasted growth rate is below Montenegro’s potential given the unemployment rate for one, which is expected to remain not much below 20%. Assuming that political stability is maintained and public investments continue with growth of tourist services, 3% growth should be the floor growth rate rather than the ceiling in the medium term.

map Montenegro
Main Economic Indicators201420152016201720182019
Population, 1000 persons622622622...
GDP, real change in %
GDP per capita (EUR at PPP)113001220012900...
Gross industrial production, real change in %-11.47.9-3.7...
Unemployment rate - LFS, in %, average18.017.617.417.016.516.5
Average gross monthly wages, EUR723725751...
Consumer prices, % p.a.-
Fiscal balance in % of GDP-3.0-8.0-3.4...
Public debt in % of GDP56.262.360.8...
Current account in % of GDP-15.2-13.2-18.1-21.4-23.7-23.7
FDI inflow, EUR mn375630205...
Gross external debt in % of GDP45.253.550.6...

Basic data are continuously updated.

* Forecasts are changed beginning of March, July and November.
See Press Conferences.


Monthly Report No. 7-8/2017

Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, Richard Grieveson, Doris Hanzl-Weiss, Peter Havlik, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2017
27 pages including 1 Table and 2 Figures



MONTENEGRO: Growth returns

Vladimir Gligorov
in: Cautious Upturn in CESEE: Haunted by the Spectre of Uncertainty
wiiw Forecast Report No. Spring 2017, March 2017 , pp. 96-98
Details and Buy