Montenegro
In 2018, GDP is estimated to have grown by 4% and was mostly driven by surging investment and growing exports. Employment increased considerably, but unemployment still remains high. The high government debt burden represents the largest challenge for policy-makers, which pursue an ambitious fiscal consolidation plan. During 2019-2021, economic growth will gradually slow down with an average rate of around 2.2%. In 2019, the government started the Montenegro Citizenship by Investment Programme.
| FORECAST* | ||||||
|---|---|---|---|---|---|---|
| Main Economic Indicators | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| Population, 1000 persons | 622 | 622 | 625 | . | . | . |
| GDP, real change in % | 3.8 | 4.7 | 4.9 | 2.5 | 2.2 | 2.0 |
| GDP per capita (EUR at PPP) | 13000 | 13700 | 14400 | . | . | . |
| Gross industrial production, real change in % | -2.9 | -4.2 | 22.4 | . | . | . |
| Unemployment rate - LFS, in %, average | 17.4 | 16.1 | 15.2 | 14.3 | 13.8 | 13.6 |
| Average gross monthly wages, EUR | 751 | 765 | 766 | . | . | . |
| Consumer prices, % p.a. | -0.3 | 2.4 | 2.6 | 1.9 | 1.8 | 1.9 |
| Fiscal balance in % of GDP | -3.6 | -5.3 | -2.9 | . | . | . |
| Public debt in % of GDP | 60.8 | 61.1 | 68.3 | . | . | . |
| Current account in % of GDP | -16.2 | -16.1 | -17.2 | -16.9 | -16.8 | -14.0 |
| FDI inflow, EUR mn | 205 | 494 | 415 | . | . | . |
| Gross external debt in % of GDP | 50.6 | 51.5 | 59.8 | . | . | . |
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
MONTENEGRO: Gradual growth deceleration expected
Goran Vuksic
in: Moving Into the Slow Lane
wiiw Forecast Report No. Spring 2019, March 2019 , pp. 112-115
Details and Buy
Monthly Report No. 6/2018
Vasily Astrov, Rumen Dobrinsky, 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. 6, June 2018
27 pages including 1 Table and 1 Figure