Montenegro Country Report - September, 2016

October 12, 2016

This report covers the main macroeconomic releases from September 1 until September 30, 2016 as well as the financial and political events that took place in Montenegro during this period.
Montenegro’s economic growth should remain stable at 3.2% in 2016, the same as last year, according to the World Bank’s latest Southeast Europe Regular Economic Report (SEERER), issued on September 27.
Three opposition parties in Montenegro - the Socialist People's Party (SNP), a party newly established by the former leader of the Democratic Front, Demos led by Miodrag Lekic and Reform Action (URA) - have agreed to run jointly in the October 16 general elections.
Montenegro’s ruling Democratic Party of Socialists (DPS) will not form a coalition with a new partner in advance of the October 16 general election. However, the DPS said it would include two representatives of its long-term coalition member, the Liberal Party (LP), on its list of parliamentary candidates, as in previous elections.
Montenegro will discuss a new loan worth $90mn for 2017 with representatives of the World Bank at the annual meetings of the International Monetary Fund (IMF) in October.
Montenegro’s tourism revenue is expected to exceed €1.5bn per year by 2026, according to the country’s Tourism Minister Branimir Gvozdenovic.
Montenegro’s President Filip Vujanovic has signed into law amendments to the law on conversion of Swiss franc loans to euro. Meanwhile, the Montenegrin arm of Addiko Bank (formerly Hypo Alpe-Adria Bank) said it will resort to international arbitration over amendments to the law on the conversion of Swiss franc loans.

Key points:
• CPI deflation softened to 0.5% y/y in August
• The working-day adjusted industrial production increased 8.1% y/y in August
• The foreign trade gap widened by 12.9% y/y to over €1bn in the first seven months of 2016


To Purchase This Report - Click Here

Related Reports

Iran Country Report Jul17 - July , 2017

Iran’s economy has experienced an “impressive recovery” since international sanctions were lifted in January last year and delivered an annual economic growth of 12.5% in the last Persian year ... more

Bulgaria Country Report - Q2, 2017

This report covers the key economic, financial and political releases for Bulgaria for the period April 29 – August 1. The new government of centre-right Citizens for European Development of ... more

Poland Country Report Jul17 - July , 2017

The Polish economy accelerated growth to 4% y/y in the first quarter of 2017, on the back of a 4.1% y/y expansion in domestic demand. However, that included 4.7% y/y growth in private consumption. ... more

Dismiss