Montenegro’s total public debt stood at €5.18 billion at the end of last year, that is, 63.5% of GDP, suggests the annual report on public debt published by the Ministry of Finance.
“Taking into account the Ministry of Finance’s deposits, including 38.477 ounces of gold, totalling €804.68 million at the end of 2025, Montenegro’s net public debt stood at €4.38 billion, accounting for 53.65% of GDP, representing a decrease of 1.14 percentage points compared with the end of 2024. This has further improved Montenegro’s net debt position,” the report says.
Montenegro’s public debt at the end of last year remained above the Maastricht criterion (public debt mustn’t exceed 60% of GDP). However, many EU member states carry significantly higher levels of debt than Montenegro.
According to data published last year, Greece remains the most indebted nation in Europe, with public debt exceeding 160% of GDP. Public debt in Italy stood at 137% of GDP, while France reached 110% and Spain 107%. By contrast, Serbia saw public debt amounting to €39.35 billion at the end of December last year, making up 44.4% of GDP.
