The retail trade in Montenegro rose by 17% y/y in December 2011, according to data published by the statistical office. The growth accelerated slightly compared to the previous month when it was 16% y/y. Retail sales managed to stay above their year-ago level during all 12 months of last year. The growth was more volatile during the first half of the year, while in Q4 retail sales were clearly stabilising. Given the falling net wages (down 6% y/y in December) and the relatively flat y/y unemployment rate, we believe that retail sales growth was mainly driven by foreign tourists. In the period from January to December, retail trade expanded by 15.1% y/y at constant prices. |
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