Montenegro's Government projects 0.5% economy growth in 2012

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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.