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 Indicators202220232024202520262027
Population, 1000 persons617615....
GDP, real change in %6.46.33.53.73.5.
GDP per capita (EUR at PPP)1748020130....
Gross industrial production, real change in %-3.36.4....
Unemployment rate - LFS, in %, average14.713.111.311.010.0.
Average gross monthly wages, EUR883987....
Consumer prices, % p.a.11.98.73.63.02.5.
Fiscal balance in % of GDP-4.30.60.6-3.0-3.0.
Public debt in % of GDP69.259.3....
Current account in % of GDP-12.9-11.4-10.7-12.2-11.9.
FDI inflow, EUR m833487....
Gross external debt in % of GDP158.7130.2....


Basic data are continuously updated.

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

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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

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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

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