Montenegro's Government projects 0.5% economy growth in 2012

Montenegro's Government adopted the Analysis of Macroeconomic Trends and Structural Reforms in 2012, which corresponds with the earlier projections that forecast the Montenegrin economy’s growth of 0.5% in 2012.

The negative economic trends in the region and Europe, as well as bad weather conditions in the first quarter of 2012, had a huge impact on all types of economic and financial activities which lead to the economic decline of 2.4% in the first four months of 2012.

However, the results of the summer tourist season and the positive developments in agriculture brought about the recovery of the economy of 0.3% in the second quarter of 2012.

The third quarter, which contributes 32% in total GDP, is characterised by the growth in the service sector and electricity production, as well as good collection of revenues. As a result, the Analysis confirmed that it is realistic to expect that the country's economy will increase at the rate of 0.5% in 2012, the Cabinet meeting concluded.