Montenegro’s economy showed positive growth at the start of the year, with a real GDP increase of 2.5% in the first quarter, surpassing growth rates in the EU and eurozone, Finance Minister Novica Vuković announced. The growth was driven mainly by investments and private consumption, indicating stable macroeconomic fundamentals. Unemployment dropped to a record low of 9.91%, and average net wages exceeded €1,000 with a 22% growth rate. Inflation slowed significantly from 13% in 2022 to 2.2% last year.
However, some experts and opposition politicians expressed concerns. Gordana Radojević, president of the Society of Statisticians and Demographers, highlighted that economic activity has been slowing since mid-2024, with key sectors like agriculture and real estate declining, and rising prices hitting households hard.
Miloš Vuković of Fidelity Consulting warned that Montenegro’s GDP growth is projected to be lower than many EU candidate countries this year, possibly below 2%, and that the country risks recession once high consumption fueled by borrowing ends.
Opposition MPs called for realistic assessments and fiscal reforms, warning of growing deficits and urging the government to prepare for tougher economic adjustments to sustain growth and public finances.
Notably, the Deputy Prime Minister and Minister of Economic Development did not attend the parliamentary hearing.
