“Montenegro’s economy grew by an estimated 6% in real terms in 2023, bolstered by a strong tourism season, and we forecast growth will slow in 2024, but remain favorable at 3.6%,” S&P said in a statement on Friday.
The ratings agency noted it projects Montenegro’s economic growth to further slow to 3.2% in 2025, 3.1% in 2026 and 3.0% in 2027.
“Resilient nominal GDP growth and lower fiscal deficits helped reduce net general government debt over 2021-2023 to 54% of GDP, down from 58% of GDP before in 2019,” the agency said, adding that net debt-to-GDP is seen lingering at 54.4% in 2024, and…