EC projects 0.9% real economic growth in Montenegro in 2012.

By bne IntelliNews April 24, 2012
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%.

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