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World Bank raises Montenegro's 2022 GDP forecast to 5.6%

Author Radomir Ralev
World Bank raises Montenegro's 2022 GDP forecast to 5.6% License: Creative Commons BY-NC 2.0

PODGORICA (Montenegro), January 12 (SeeNews) - The World Bank said it expects Montenegro's real gross domestic product (GDP) to grow by 5.6% in 2022, raising its previous forecast for 4.5% expansion of the country's economy.

Montenegro's economic output is projected to increase by 4.8% in 2023, which is up by 1.3 percentage points compared with the previous forecast, the World Bank said in the January edition of its Global Economic Prospects report published on Tuesday.

The country's economic growth in 2021 is estimated at 10.8%, up from the 7.1% forecast made in June.

The regional GDP growth of the Western Balkans is forecast at 4.1% in 2022, the World Bank noted. The region's economic growth in 2021 is estimated at 5.9%.

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