Montenegro's Jan-Sept GDP Falls Real 4.0%, 9-Mo C/A Gap Narrows 53.8% – C-bank

The country's economy contracted by 3.5% year-on-year in the first half of 2009. It is expected to shrink by 5.0% in the full year 2009, CBCG said in a quarterly bulletin.

Montenegro's current account deficit fell by an annual 53.8% to 332 million euro through September, which was equivalent 12.4% of GDP, CBCG said.

The country's trade gap narrowed 37.4% on the year to 736.8 million euro in the first nine months of the year.

Net foreign direct investment increased by an annual 69.3% to 764.7 million euro over the review period.

The government adopted earlier this month a 2010 draft budget, which projects economic growth of 0.5% next year.

The country’s economy grew by a preliminary 8.1% last year.

($=0.6934euro)