Montenegro Economic Forecast

Montenegro Economic Outlook

May 8, 2018

The latest data suggests the economy grew at a strong pace in the first quarter of the year. Industrial production expanded at a double-digit rate in the quarter, driven by buoyant growth in energy production and the manufacture of intermediate goods. Furthermore, growth in retail sales was strong in the first quarter, suggesting that private consumption also remained healthy. On the political scene, seasoned politician Milo Djukanovic, a former prime minister and president from the ruling party, won the country’s presidential election on 15 April with over 50% of the vote. The result lends support to the current government’s ongoing efforts to join the EU and NATO.

Montenegro Economic Growth

Economic growth is expected to decelerate this year and next, weighed down by the government´s fiscal consolidation efforts. Our panelists expect GDP to expand 3.1% in 2018, which is unchanged from last month’s forecast, and 2.9% in 2019.

Montenegro Economy Data

20132014201520162017
Population (million)-  -  -  -  -  
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GDP (EUR bn)-  -  -  -  -  
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Inflation Rate (CPI, annual variation in %, eop)-  -  -  -  -  
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Trade Balance (EUR billion)-  -  -  -  -  
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Exports (annual variation in %)-  -  -  -  -  
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International Reserves (EUR)-  -  -  -  -  
International Reserves (USD)-  -  -  -  -  
External Debt (% of GDP)-  -  -  -  -  

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Montenegro Facts

ValueChangeDate
Exchange Rate1.180.65 %May 21
Exchange Rate1.180.65 %May 21

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