Montenegro Economic Outlook
June 4, 2019The economy likely continued expanding at a robust pace in the first quarter of 2019 and should have entered the second quarter on a similarly good footing. Ongoing work on the country’s vast Bar-Boljare motorway, which is nearing completion, will have supported growth in Q1, as suggested by the strong year-on-year increase in registered construction activity. In addition, the services sector appeared to be in sound health through Q1 and into Q2: after surging in January–March, tourist arrivals continued to grow strongly in April in annual terms. On the other hand, the merchandise trade deficit widened from January–April this year, as year-on-year import growth was robust while exports decreased.
Montenegro Economic GrowthThe economy is seen slowing this year as infrastructure spending unwinds as the Bar-Boljare motorway nears completion and the government tightens its fiscal stance. Elevated public debt and the EU slowdown, which could drag on tourism and FDI, are key downside risks to the outlook. FocusEconomics panelists expect GDP to expand 3.1% in 2019, which is up 0.1 percentage points from last month’s forecast, and 2.8% in 2020.
Montenegro Economy Data
5 years of Montenegro economic forecasts for more than 30 economic indicators.
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|Exchange Rate||1.13||0.65 %||Jun 13|
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