Montenegro Country Report - May, 2016

June 15, 2016

This report covers the key macroeconomic and financial releases as well as the political events from Montenegro for the period of May 6-June 5, 2016.
The European Bank for Reconstruction and Development (EBRD) left unchanged its 2016 economic growth forecast for Montenegro at 4.0%, up from 3.1% in 2015, in the May edition of its Regional Economic Prospects report.
The foreign ministers of Nato member states signed the protocol for the accession of Montenegro to the alliance at a meeting in Brussels on May 19.
Russian tourists and investments in Montenegro could decline if the country becomes a Nato member, as Moscow aims to show that Western countries made the wrong decision in inviting the Adriatic country to join the alliance, the Centre for Eastern Studies (OSW) has said.
Svetozar Marovic, the former president of Serbia and Montenegro, has signed an agreement with Montenegro’s special prosecution, pleading guilty over his role in the so-called “Budva affair”.



Key points:

• The budget deficit shrank 44.5% y/y to €87.6mn in the first four months of 2016
• The consumer prices declined by 0.7% y/y in April
• Industrial output contracted by 14.1% y/y in April
• Bank assets rose 8.5% y/y to €3.45bn at end-April

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