Montenegro Economic Forecast

Montenegro Economic Outlook

November 28, 2017

Recent data points to sustained economic growth approaching year-end driven by domestic demand despite the government’s fiscal consolidation. Retail sales grew in September compared to the previous month, as they have consistently since June 2015. Tourism activity was also robust in September, with 14.9% more arrivals recorded compared to the same month last year. In addition, construction activity was strong throughout Q3 as large infrastructure projects continued such as the Bar-Boljare motorway, which will stretch over 150 kilometers upon its expected completion in 2019.

Montenegro Economic Growth

Private consumption is expected to support economic growth next year. However, the government’s ongoing fiscal consolidation drive will weigh on growth. FocusEconomics Consensus Forecast participants expect GDP to expand 3.2% in 2018, which is unchanged from last month’s forecast, and 3.0% in 2019.

Montenegro Economy Data

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Montenegro Facts

ValueChangeDate
Exchange Rate1.180.65 %Dec 06

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