The European Commission projects real economic growth of 0.9% in Montenegro this year, the finance ministry said in an e-mailed statement. GDP growth will accelerate to 3% in 2013. Economic growth will be fuelled by investments in tourism and energy. Positive developments in the services sector and expected economic recovery in the EU in H2 2012 will contribute to the expansion of Montenegro's economic output. The main risks for Montenegro remain debt-repayment problems at aluminium smelter KAP and growing government debt. By contrast, Montenegro's finance ministry projects 0.5% GDP growth in 2012 and 1.5% in 2013. The lower forecast incorporates restrictive fiscal policy, subdued bank lending and foreign investment in the country. Montenegro's central bank sees 0.3% economic growth in 2012 and 3% - in 2013. In its autumn forecast the EC said Montenegro's economic growth will decelerate in 2012 to 2.2% before rebounding in 2013 to 3.2%. |
Montenegro's government said it decided on Thursday, March 21, to reduce to EUR 220mn from EUR 250mn the amount it plans to borrow this year for financing its budget spending and servicing ... more
Montenegro's budget revenue increased by 11.5% y/y to EUR 195mn in the period from January 1 to March 20 due to higher profit tax, social contributions and VAT inflows, news service ... more
Mobile phone penetration in Montenegro dropped to 155.5% at the end of February 2013, from 159.81% at end-Dec 2012 and 163.66% a year earlier, the latest figures of the telecommunications agency ... more