Montenegro

map Montenegro
Montenegro’s economy grew by 3.4% in the first half of 2024, and we expect a figure of 3.5% for the whole year. While private consumption and public infrastructure investment increased, exports fell (notably of electricity and aluminium) and the tourist season underperformed. Inflation, now standing at 4.3%, remains of concern, as wage and pension increases under the ambitious Europe Now 2 programme may fuel a further rise. With record low unemployment, Montenegro’s credit rating has also improved, reflecting a stabilisation of public finances – although the management of public debt remains a challenge.
        FORECAST*
Main Economic Indicators202120222023202420252026
Population, 1000 persons619617615...
GDP, real change in %13.06.46.33.53.73.5
GDP per capita (EUR at PPP)154601758019900...
Gross industrial production, real change in %4.9-3.36.4...
Unemployment rate - LFS, in %, average16.614.713.111.711.010.0
Average gross monthly wages, EUR793883987...
Consumer prices, % p.a.2.511.98.74.83.02.5
Fiscal balance in % of GDP-1.9-4.30.6-3.0-3.0-3.0
Public debt in % of GDP84.069.259.3...
Current account in % of GDP-9.2-12.9-11.4-13.1-12.2-11.9
FDI inflow, EUR m591833487...
Gross external debt in % of GDP192.3158.7130.1...


Basic data are continuously updated.

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

publication_icon

Monthly Report No. 7-8/2024

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Selena Duraković, Meryem Gökten, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Branimir Jovanović, Niko Korpar, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Sandor Richter, Bernd Christoph Ströhm, Maryna Tverdostup, Zuzana Zavarská and Adam Żurawski
wiiw Monthly Report No. 7-8, July-August 2024
45 pages including 5 Tables and 12 Figures

Details

publication_icon

Executive summary

Olga Pindyuk
in: The Crisis is Over, but its Scarring Effects are Hindering Recovery
wiiw Forecast Report No. Spring 2024, April 2024 , pp. I-VII
Details


top