Montenegro Economic Forecast

Montenegro Economic Outlook

February 6, 2018

The economy performed well in the final months of 2017, after growth in Q3 was driven by an expansion in household consumption. Through December, foreign and domestic tourists flocked to Budva and Podgorica, pushing total tourist arrivals in Montenegro to increase around 18% in 2017 compared to the previous year. In addition, industrial production recorded decent year-on-year growth in the fourth quarter, although heavy contractions in earlier quarters resulted in an over 4% decrease in 2017 compared to 2016. On the downside, accelerated inflation reduced real wage levels in 2017 compared to 2016. Meanwhile, in February, the EU is expected to set a 2025 target for Montenegro’s EU accession.

Montenegro Economic Growth

Economic growth will be slowed by the government’s ongoing fiscal consolidation drive this year. However, household consumption should still prove supportive, as should investment, which will continue to benefit from large infrastructure projects. FocusEconomics Consensus Forecast participants expect GDP to expand 3.2% in 2018, which is unchanged from last month’s forecast, and 3.1% in 2019.

Montenegro Economy Data

20122013201420152016
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Inflation Rate (CPI, annual variation in %, eop)-  -  -  -  -  
Exchange Rate (vs USD)-  -  -  -  -  
Exchange Rate (vs USD, aop)-  -  -  -  -  
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Trade Balance (EUR billion)-  -  -  -  -  
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Exports (annual variation in %)-  -  -  -  -  
Imports (annual variation in %)-  -  -  -  -  
International Reserves (EUR)-  -  -  -  -  
International Reserves (USD)-  -  -  -  -  
External Debt (% of GDP)-  -  -  -  -  

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Montenegro Facts

ValueChangeDate
Exchange Rate1.240.65 %Feb 16

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