Director General Vuković: Investments are main driver of economy in previous period

At today session, the Cabinet passed the autumn analysis of macroeconomic developments and structural reforms for 2019.

"The Montenegrin economy, in the period 2017 – 2019, is characterized by more dynamic economic growth, with high rates in the previous two years, and we can say that in 2019 the growth rate of 3.1% was a respectable growth rate, bearing in mind the result in the previous period," Director General of the Directorate for Economic and Development Policy at the Ministry of Finance Iva Vuković stated at the press conference.

It also stated that GDP per capita raised from EUR 6,908 in 2017 to an estimated EUR 7,743 in 2019 and GDP per capita in Montenegro increased from 44% to 47% of the EU average, the highest in the Western Balkans region, while growth in 2018 is the largest in the Western Balkans region and one of the largest in Europe.

“For 2019, it is estimated that the Montenegrin economy will grow at a rate of 3.1%, however, after the approval of the estimate by the Government, data were published on most indicators for the third quarter, which recorded extremely strong growth rates. In this regard, tourism has seen a 19% growth in arrivals and a 10.7% increase in overnight stays in 10 months, which means that such a strong tourist season could indicate that the growth rate in 2019 will be exceeded over 3.1%." Director General Vuković stated.

For full press release click here.