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IMF lifts Montenegro's 2019 GDP growth forecast to 3.0%

Author Radomir Ralev
IMF lifts Montenegro's 2019 GDP growth forecast to 3.0% License: Creative Commons BY-NC 2.0

PODGORICA (Montenegro), October 16 (SeeNews) – The International Monetary Fund (IMF) has said it expects Montenegro’s economy to expand by a real 3.0% in 2019, up from a growth rate of 2.8% projected in April.

Montenegro's gross domestic product (GDP) is expected to grow 2.5% in 2020 and 2.9% in 2024, the IMF said in its October 2019 World Economic Outlook report published on Tuesday.

According to the IMF, Montenegro saw economic growth of a high 4.9% in 2018.

The IMF expects an average consumer price inflation of 2.3% in Montenegro in 2019, up from 1.7% in 2018. The average inflation is seen at 1.6% in 2020.

Montenegro's current account deficit is projected at 17.1% of GDP in 2019, before shrinking to 14.9% next year. The shortfall is expected to decline further to 9.5% of GDP in 2024. The current account gap stood at 17.2% in 2018.