EBRD cuts 2010 GDP expectations for Montenegro.

By bne IntelliNews October 29, 2010
The European Bank for Reconstruction and Development (EBRD)said the Montenegrin economy will contract by 0.6% this year, revising down its previous forecast of 0.1%. However, the bank improved its 2011 expectations, saying the GDP growth is expected to reach 2.5%. Earlier the EBRD said the Montenegrin economy will grow by 2.0% in 2011. We note that the government targets a 0.5% GDP growth in 2010.

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