PODGORICA (Montenegro), April 6 (SeeNews) – Montenegro’s economy is expected to grow by a real 9.0% in 2021, the International Monetary Fund (IMF) said on Tuesday, improving its forecast for a 5.5% increase made in October.
The gross domestic product (GDP) of Montenegro is expected to grow by 5.5% in 2022 and by 3.0% in 2026, the IMF said in the April 2021 edition of its World Economic Outlook report.
In 2020, the country's economy contracted by 15.2%, the IMF said.
The Fund expects an average consumer price inflation of 1.0% in Montenegro in 2021, compared to 0.9% deflation last year. The average inflation is seen at 1.2% in 2022 and 1.7% in 2026.
Montenegro's current account gap is projected at 18.7% of GDP in 2021, before narrowing to 12.0% next year. The deficit is expected to shrink to 9.2% of GDP in 2026. The current account gap stood at 25.9% of GDP last year, according to the report.