November 1 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Thursday it has increased its projection for Montenegro's economic growth this year to 4.2% from 3.3% predicted in May.
The projection was increased mainly on the grounds of the further investment in the highway connecting the Montenegrin coast with Serbia, the bank said in its new Regional Economic Prospects report.
"The main risks include the high level of public debt and limited fiscal space," the bank said.
Montenegro's economic growth is estimated at 3.0% in 2019, the EBRD noted.
The country's gross domestic product (GDP) rose 4.7% in 2017, quickening from 2.9% in 2016.