Page 48 - SE Outlook Regions 2022

production of construction materials, metal products and metal
constructions boasted growth rates of over 20% compared to 2019.
Light industry and wood processing also performed well. Furniture
production, with a 78% leap (both y/y and compared to 2019), made the
strongest advance.

2.7 Macroeconomy - Montenegro

Montenegro key economic figures and forecasts

2016 2017 2018 2019 2020 2021 2022

Nominal GDP (EUR bn) 4.0 4.3 4.7 5.0 4.2 4.9

Real GDP (% yoy) 2.9 4.7 5.1 4.1 -15.3 13.4 ?

Unemployment rate (avg, %) 17.7 16.1 15.2 15.1 17.9 ?

Consumer prices (avg, % yoy) -0.3 2.4 -2.6 0.4 -0.3 2.4 ?

Consumer prices (eop, % yoy) 1.0 1.9 1.6 1.0 -0.9 4.6 ?

General budget balance (% of GDP) -6.2 -6.8 -6.2 -1.78 -10.9 -5.0 -2.5

Public debt (% of GDP) ?

Current account balance (% of GDP) -16.2 -16.0 -17.0 -14.3 -26.0 -21.0 -16.8

Source: Statistics office, central bank, IMF, World Bank

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