The International Monetary Fund (IMF) has maintained its forecast for Montenegro’s economic growth at 3.7% for this year.
In its October forecasts, which were reviewed by the Mina-business agency, the IMF projected the same growth rate for next year, an increase of 0.7 percentage points compared to its spring forecast.
The IMF estimates that the economy will grow by 3% in 2029.
According to the IMF, Montenegro’s economy grew by 6% last year.
Inflation in Montenegro is expected to be 4.2% this year and 3.7% next year, according to IMF estimates.
In its latest global economic outlook report, the IMF has kept its forecast for this year’s global GDP growth at 3.2%, with the same expected for next year.
While highlighting the positive aspect of decreasing inflation, the IMF also noted rising threats and risks to the global economy.
The IMF has reiterated its forecast of 3.2% global GDP growth since its April economic outlook. The forecast for next year is only 0.1 percentage point lower than the last updated July report on global economic prospects.
There are no significant differences in the forecasts for developed and developing economies. The former are expected to grow at an average rate of 1.8% this year and next, while the latter are projected to grow by 4.2%.
The main driver of growth in the developed world remains the United States. The IMF has revised its forecast for GDP growth in the world’s strongest economy upward by 0.2 percentage points to 2.8% this year and by 0.3 percentage points to 2.2% for next year.
Meanwhile, the forecast for the Eurozone has worsened. This year, growth is expected to be 0.8%, which is 0.1 percentage point lower than the July forecast. For next year, the forecast is down by 0.3 percentage points to 1.2%.
Germany remains the weak link in the Eurozone, with its economy expected to stagnate this year, which is 0.2 percentage points worse than the July forecast. The forecast for next year is even more pronounced, with growth expected at only 0.8%.
The IMF publishes regular forecasts for the global economy twice a year, in spring and fall, while summer reports focus solely on projections for the world economy and major economies and regions.
