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IMF cuts Montenegro 2017 GDP growth forecast to 3.3%

Author Radomir Ralev
IMF cuts Montenegro 2017 GDP growth forecast to 3.3% License: Creative Commons BY-NC 2.0

PODGORICA (Montenegro), April 19 (SeeNews) – The International Monetary Fund (IMF) said it expects Montenegro’s economy to expand by a real 3.3% in 2017, down from its October forecast of 3.6% growth.

The gross domestic product (GDP) of Montenegro is expected to grow by a real 3.4% in 2018 and by 3.1% in 2022, the IMF said in the April edition of its World Economic Outlook report on Tuesday.

In 2016, Montenegro's economy expanded by 2.4%.

The IMF expects Montenegro to swing to an average consumer price growth of 2.1% in 2017 from 0.4% deflation in 2016. The average consumer price growth in Montenegro is seen at 1.5% in 2018 and 1.9% in 2022, respectively.

Montenegro's current account deficit calculated as percent of GDP is projected at 22% in 2017, before widening to 25.6% next year. The country's current account deficit is expected to decrease to 17.1% of GDP in 2022, the IMF said.