GDP in Montenegro
Montenegro - GDPWith tourism revenues accounting for more than 20% of the country’s GDP, Montenegro’s economy is languishing under the global Covid-19 measures that have brought international travel to a near standstill. Moreover, merchandise exports plummeted in March on frail European demand, while remittance inflows are expected to plunge. In response to the crisis, on 24 April the cabinet approved a second EUR 75 million package that provides 70% wage subsidies to affected individuals. As Montenegro’s fiscal position has become even more precarious, S&P Global Ratings downgraded its outlook for the sovereign’s B+ credit rating to negative on 1 May. More positively, the government began to gradually reopen the economy starting 4 May, which should help revive activity.
Montenegro - GDP Data
|Economic Growth (GDP, annual variation in %)||1.8||3.4||2.9||4.7||5.1|
5 years of economic forecasts for more than 30 economic indicators.
Montenegro GDP Chart
Source: Statistical Office of Montenegro (MONSTAT).
|Exchange Rate||1.12||0.65 %||Dec 31|
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