May 16 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Tuesday that it expects Montenegro's economy to grow by 3.3% in 2023, affirming its February forecast.
Montenegro's economic growth is expected to quicken to 3.7% in 2024, the EBRD said in its latest Regional Economic Prospects report.
Last year’s robust performance of the hospitality sector and increasing diversification of Montenegro’s tourists bode well for the upcoming summer tourism season, which has further scope to recover as the number of foreign visitors to its record levels of 2019, the EBRD noted.
The EBRD maintained its projection for the economic output of the Western Balkans at 2.2% in 2023 and 3.4% in 2024.