PODGORICA (Montenegro), April 14 (SeeNews) – The International Monetary Fund (IMF) said on Tuesday it expects Montenegro’s economy to grow by a real 4.7% in 2015, slightly up from its previous forecast issued in February for a 4.6% growth.
Montenegro’s gross domestic product (GDP) increased by 1.1% in 2014, data from the April edition of IMF's World Economic Outlook report indicated.
IMF expects the country’s economy to expand by 3.5% in 2016.
Montenegro’s average annual inflation is seen at 0.5% and 1% in 2015 and 2016, respectively, following a deflation of 0.7% in 2014, the IMF said.
Earlier this month, the Montenegrin government affirmed the projection for the country’s economic growth in 2014 at 2%. It had said earlier it expected Montenegro’s economy to expand by 3.5% in 2015.
In the third quarter of 2014, Montenegro's GDP rose by a real 1.3% on the year, compared to a revised 4.1% increase a year earlier, according to preliminary data of the statistics office.
In 2013, the Montenegrin economy expanded by a real 3.3%.