March 5 (SeeNews) - The coronavirus outbreak poses a risk to Montenegro's economic growth, the country's central bank, CBCG, said.
The epidemic is harming the performance and functioning of the global financial markets, which may particularly affect small and open economies, the central bank said in a statement on Wednesday.
The central bank follows closely the situation and the potential impact of the coronavirus outbreak on the economy, medium-term inflation, health and resilience of the banking system and financial stability, and is ready to take measures to minimise such risks if the need arises, it added.
In January, the World Bank increased its projection for Montenegro’s economic growth in 2020 to 3.1% from 2.4% projected in June last year. Montenegro’s gross domestic product (GDP) is forecast to grow in 2021 by 2.8%, 0.5 of a percentage point above the June projection, according to the World Bank's January 2020 Global Economic Prospects.