Montenegro Country Report - September, 2013

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Montenegro Country Report - September, 2013

Montenegrin court declared bankruptcy at KAP on Oct 9, giving go-ahead to its debt-free sale IMF has left unchanged its forecast for this year's economic growth in Montenegro to 1.5%.

The GDP rose 3.4% year on year in Q2 ,up from a revised 1.1% year on year in Q1
The January to August budget deficit reached 3.3% of GDP, exceeding the full-year target of 2.7% of GDP, after the government paid out the EUR 103mn state guarantees on KAP’s loans Montenegro will borrow EUR 100mn from Morgan Stanley to finance its budget gab and service its debt Industrial production grew 9% year on year in August, speeding up from the 5.1% rise in July August CPI inflation slowed to 2.2% year on year from a 2.7% increase the month before, due to falling transport, restaurants and hotels and furnishing prices

Number of pages: 24
Release Date: Wed, 09 Oct 2013