PODGORICA (Montenegro), February 4 (SeeNews) – The European Commission said on Thursday it expects that Montenegro will post economic growth of 4.0% in 2016 and 4.1% in 2017, slightly lower than projected earlier.
In its previous economic outlook report issued in November the Commission projected that Montenegro economy will expand by 4.1% in 2016 and by 4.0% in 2017.
Surging public and private investments are set to drive economic growth in the next years, the European Commission said in its 2016 Winter Forecast report.
Inflation is seen at 2.3% in 2016 and 2.2% next year, as global oil prices are projected to remain low.
The Commission revised upwards the positive contribution from service exports, expecting that significant investments on hotel capacities would continue to sustain tourism-related income in 2016 and 2017.