Economic growth slowed markedly at the turn of 2016, largely because of a surge in imports. It recovered in the course of the year and is now poised to return to 3% or thereabouts in the medium term. Political risks also contributed to economic volatility, though a degree of stability should have returned following the early elections. The economy will continue to rely even more on services, i.e. on tourism.
|Main Economic Indicators||2014||2015||2016||2017||2018||2019|
|Population, 1000 persons.||622||622||625||.||.||.|
|GDP, real change in %||1.8||3.4||2.5||3.1||2.9||3.3|
|GDP per capita (EUR at PPP)||11300||12100||12400||.||.||.|
|Gross industrial production, real change in %||-11.4||7.9||-4.4||.||.||.|
|Unemployment rate - LFS, in %, average||18.0||17.6||17.4||17.0||16.5||16.5|
|Average gross monthly wages, EUR||723||725||751||.||.||.|
|Consumer prices, % p.a.||-0.5||1.4||0.1||1.5||2.0||2.0|
|Fiscal balance in % of GDP||-3.0||-8.0||-1.6||.||.||.|
|Public debt in % of GDP||56.2||62.8||61.0||.||.||.|
|Current account in % of GDP||-15.2||-13.3||-18.9||-16.4||-20.7||-19.8|
|FDI inflow, EUR mn||375||630||205||.||.||.|
|Gross external debt in % of GDP||45.2||54.0||52.0||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
MONTENEGRO: Growth returns
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
Monthly Report No. 7-8/2016
Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Simona Jokubauskaite, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2016
25 pages including 1 Table and 1 Figure