IMF affirms Montenegro's 2024 GDP growth f'cast

Montenegro's gross domestic product (GDP) is expected to grow by 3% next year, the IMF said in the April edition of its World Economic Outlook report published on Tuesday.

The IMF projection for 2024 is slightly higher than the latest World Bank forecast of 3.4% economic growth in Montenegro this year.

Last year, Montenegro’s economic output expanded by an estimated 6%.

Montenegro's average consumer price inflation is expected to decrease to 4.2% in 2024 from 8.6% last year, before slowing further to 2.7% in 2025, according to the IMF.

The country's current account deficit is projected to rise to 12.4% of GDP in 2024 from 11.4% in 2023. In 2025, the current account deficit is expected to rise to 13.5% of GDP.

The IMF projects that the GDP of the Emerging and Developing Europe area will grow by 3.1% in 2024, after expanding by 3.2% last year, before slowing to 2.8% in 2025. The region includes Bosnia, Romania, Turkey, Bulgaria, Serbia, Albania, Kosovo, Moldova, Montenegro and North Macedonia.