According to the latest forecast report of the Vienna Institute for the International Economic Studies (WIIW), Montenegrin economy will contract by 8%, due to heavy reliance on tourism.
The report forecasts that Montenegrin economy will strengthen by 5% next year.
Croatia is expected to face the greatest real GDP contraction. (11%).
Croatia is followed by Slovenia (9,5%), Slovakia (9%) and Montenegro (8%), reflecting these countries’ particularly heavy reliance on external trade and/or tourism.
Economies of North Macedonia, Albania and Bosnia and Herzegovina are expected to contract by 5%, while Serbia’s economy will experience a 4% contraction.
WIIW forecast that GDP in Turkey will drop by 6% in Turkey and 7% in Russia.
