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2018/12/03 / Erste Group Research

MN Macro Outlook, Montenegro: Expected stabilization of growth rates

The 1H18 GDP growth figure landed at 4.8% y/y, supported by strong investment dynamics and a stable consumption footprint. Net exports made a negative contribution, due to strong pressures on imports. The external position slightly deteriorated, but we expect stabilization down the road. Monetary developments show continued acceleration of lending activity, accompanied by better FSI indicators. As for fiscal policy, austerity package and liability management efforts should mitigate some of the highway-related pressures on public debt.

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General information

AuthorErste Group Research
Product nameCEE Country Macro Outlook
Topic in focusFX, Macro/ Fixed income
Economy in focus-
Currency in focus-
Sector in focus-


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