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Montenegro's economy to expand by 4.2% in 2017 - research institute

Montenegro's economy to expand by 4.2% in 2017 - research institute Author: AleGranholm Licence: Creative Commons, Attribution.

BELGRADE (Serbia), November 9 (SeeNews) - Montenegro's Institute for Strategic Studies and Prognoses (ISSP) said it expects that the country's economic growth will quicken to a real 4.2% in 2017 from 2.5% in 2016.

The Montenegrin economy experienced intensive growth in the second half of 2017, which will have a positive effect on the real growth of the gross domestic product for the entire year, the ISSP said in a report earlier this week.

Investments will have a significant contribution to the estimated GDP growth this year as they are expected to rise by 14%. Moreover, the construction activity and the execution of large infrastructure projects, such as the Bar-Boljare motorway, will also boost economic growth, the ISSP said. 

The country's exports are estimated to rise by about 10% in 2017, while tourism revenue will drive a 11% increase in income from services, the institute noted. 

The estimated 9% growth in imports will be somewhat lower than last year, while consumption is seen to rise by 4%, ISSP added.

ISSP is an independent economic institute established in 1998. It aims to make the ideas and challenges faced by companies at the micro level a guideline for macro-policy makers.

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