The International Monetary Fund (IMF) has slashed its 2017 economic outlook for Montenegro to 3%.
In April, the IMF forecasted a 3.3% growth of Montenegrin gross domestic product (GDP).
The latest report World Economic Outlook seen by Mina Business news agency says that Montenegrin economy is expected grow by 2.8% in the next year, and by 3.1% in 2022.
In April, the IMF forecasted a 3.4% growth in the next year and a 3.1% growth in 2022.
According to the forecast, inflation is supposed to reach 1.6% this year and 2.6% in the next year.
When it comes to current account balance in Montenegro, IMF predicts a 20.2% deficit this year, 21.2% in 2018 and 14% in 2022.
At the beginning of September, the IMF Executive Board concluded consultations on Article 4 with Montenegro.
In accordance with Article 4 of the Treaty on the Founding of the IMF, that international organisation holds bilateral talks with its members, usually every year.
IMF delegation visits a country, collects economic and financial information, and talk to country leaders about economic trends and policies.
Upon returning to the headquarters, the IMF officials prepare a report, which is the basis for the discussion of the Executive Board.
