June 8 (SeeNews) - Montenegro's gross domestic product (GDP) grew by a real 4.4% in 2017, accelerating from a 2.5% increase in the previous year, the government said.
The country’s GDP totalled 4.237 billion euro ($4.986 billion) at current prices in 2017, the government said in a statement on Thursday.
The GDP of Montenegro amounted to 3.773 billion euro at current prices in 2016, up from 3.595 billion euro in 2015, according to data from the country's statistical office.
Total public spending in 2017 amounted to 2.012 billion euro, accounting for 47.48% of GDP, while current public spending amounted to 1.714 billion, or 40.46% of GDP, the government said.
The budget deficit in 2017 totalled 236.86 million euro, equivalent to 5.59% of GDP, the government added.
The World Bank said in March it expected Montenegro's economy would grow by 2.8% in 2018 on the back of public investments and personal consumption. Montenegro's growth would slow to 2.5% in 2019 and 2.1% in 2020, the World Bank forecast.
($ = 0.849726 euro)