October 9 (SeeNews) - Montenegro's gross domestic product (GDP) grew by 4.2% on the year in the first half of 2017, the central bank said on Monday, citing preliminary figures.
The economic growth in the first half was driven mainly by investments in construction, tourism and transport and a GDP rise of about 4.2% for the entire 2017 can be achieved if the trend continues, the central bank said in a statement.
The foreign direct investments in Montenegro also increased in the first half, by 41.7% year-on-year, while risks stemming from foreign trade in goods and services are moderate, the central bank said after a meeting of Montenegro's financial stability council chaired by central bank governor Radoje Zugic .
Zugic said last month he expects the country's economy to expand by more than 4% in the third quarter of 2017.
The International Monetary Fund (IMF) said in January it expects Montenegro's GDP to grow by 3% in 2017 and 2.8% in 2018, with planned fiscal consolidation acting as a moderate drag on growth.