Growth will slow to around 3% in the short run but may accelerate somewhat beyond that, depending primarily on the resumptions of ambitious government investments. Politically, the opposition is yet to find a way to challenge the governing coalition, though the democratic deficit is taking its toll on internal and external credibility. Montenegro is a front-runner in EU integration, though the prospects of accession are not rosy as the EU does not appear to be interested in enlargement any time soon.

map Montenegro
Main Economic Indicators201620172018201920202021
Population, 1000 persons622622622625..
GDP, real change in %
GDP per capita (EUR at PPP)130001370014700...
Gross industrial production, real change in %-2.9-4.222.4-10.0..
Unemployment rate - LFS, in %, average17.416.115.214.314.013.9
Average gross monthly wages, EUR751765766770..
Consumer prices, % p.a.-
Fiscal balance in % of GDP-3.6-5.3-2.9-2.2..
Public debt in % of GDP64.464.270.169.0..
Current account in % of GDP-16.2-16.1-17.0-18.1-18.0-14.3
FDI inflow, EUR mn205494415510..
Gross external debt in % of GDP50.651.559.259.0..

Basic data are continuously updated.

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


MONTENEGRO: Fiscal consolidation puts a brake on growth

Vladimir Gligorov
in: Braced for Fallout from Global Slowdown
wiiw Forecast Report No. Autumn 2019, November 2019 , pp. 91-93
Details and Buy


Monthly Report No. 6/2019

Vasily Astrov, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Hermine Vidovic and Goran Vuksic
wiiw Monthly Report No. 6, June 2019
27 pages including 24 Tables and 1 Figure