April 20 (SeeNews) - The International Monetary Fund (IMF) said it expects Montenegro's gross domestic product (GDP) to grow by 3.8% in 2022, revising its October forecast for an increase of 5.6%.
Montenegro's economy is seen growing by 4.2% next year, the IMF said in the October edition of its World Economic Outlook (WEO) report published on Tuesday.
The country is expected to record consumer price inflation of 6.8% this year, up from 2.4% in 2021. Inflation is then expected to decelerate to 3.8% in 2023 before slowing down to 1.8% in 2027.
Montenegro's current account deficit is forecast to increase to 13.8% of projected GDP in 2022 from 9.2% last year, before falling to 13.0% in 2023 and 12.5% in 2027.
The projections compare with an anticipated economic contraction of 2.9% for Emerging and Developing Europe area, which includes Romania, Turkey, Bulgaria, Serbia, Croatia, Albania, Kosovo, Moldova, Montenegro and Bosnia and Herzegovina this year, following a 6.7% rise in 2021. The IMF expects the region's GDP to grow by 1.3% in 2023.