PODGORICA (Montenegro), October 11 (SeeNews) – The International Monetary Fund (IMF) said it expects Montenegro’s economy to expand by a real 3.0% in 2017, down from 3.3% projected in April.
The gross domestic product (GDP) of Montenegro is expected to grow 2.8% in 2018 and 3.1% in 2022, the IMF said in its World Economic Outlook report, published late on Tuesday. In April, the global lender forecast Montenegro's GDP will grow by 3.4% in 2018.
In 2016, the country's economy expanded by 2.5%.
The IMF expects an average consumer price inflation of 1.6% in Montenegro in 2017, up from 1.0% in 2016. The average inflation is seen at 2.6% in 2018 and 1.9% in 2022.
Montenegro's current account deficit is projected at 20.2% of GDP in 2017, before widening to 21.2% next year. The shortfall is expected to shrink to 14% of GDP in 2022. The current account gap stood at 19% in 2016.