The Montenegrin economy will grow at a rate of 4% in 2016, the European Commission states in its Winter 2016 Economic Forecast published earlier today.
According to the projections, the Montenegrin economy will be among the top three fastest growing economies in Europe in 2016. Namely, economies of EU member states are estimated to grow at an average rate of 1.9% in 2016, whereas Montenegro is expected to experience a higher growth rate than 26 EU member states and all candidate countries.
“Surging public and private investments are set to drive economic growth in the next years. Private consumption is likely to benefit from the gradual improvement in the labour market. Meanwhile, public finances will remain strained by long-term commitments to finance a highway to Serbia and higher spending on wages, pensions and some social transfers,” the European Commission’s forecast concludes.