Austrotherm Bulgaria investing 1.5 mln euro in warehouse expansion
Serbia to start Cacak tech park expansion in March - report
Romania's bank lending growth slows down in Jan
Nestle opens new factory in Serbia worth over 80 mln euro
Bulgaria’s ImPulse Growth swings to net profit in 2023
Oct 05, 2023 16:11 EEST
October 5 (SeeNews) - The World Bank said on Thursday that it expects Montenegro’s economy to expand by 4.8% this year, increasing its June projection for 3.3% growth.
In 2024, Montenegro's GDP is expected to grow 3.2%, a slight increase of 0.1 percentage points compared to its previous June forecast, the global lender said in its fall 2023 World Bank Europe and Central Asia Economic Update report.
"Over the past two years, Montenegro defied external headwinds, as GDP growth remained solid. However, multiple challenges loom and require attention, especially on the fiscal front, as the country approaches large debt repayments during 2024-2027 in an environment of high financing costs," the World Bank said.
Tourism is likely to surpass its 2019 level and continue growing, but declining growth prospects in the EU and the region may have negative effects on tourism.
The economic outlook is accompanied by potential downside risks. High geopolitical uncertainties could undermine growth prospects in Montenegro's key trading partners, and there are significant domestic risks due to political challenges. However, these challenges can be managed through the implementation of carefully designed and cost-effective policies, the report said.
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options