Podgorica, (MINA-BUSINESS) – In its latest Global Economic Prospects, the World Bank (WB) has increased this year’s economic growth forecast for Montenegro by 0.3 percentage points to 2.8 percent.
In its report published in June of 2018, the WB estimated that Montenegro’s economy would grow by 2.5 percent this year.
According to the latest WB Global Economic Prospects, Montenegro economic growth forecast for the last year was revised to 3.8 percent from 2.8 percent.
The Bank expects that Montenegro’s gross domestic product will increase by 2.5 percent next year, 0.4 percent more than forecast in June.
Montenegro is expected to see a 2.5 percent economic growth in 2021 as well.
In the latest report, the World Bank says that intensifying trade tensions and an international trade slowdown could result in weaker global economic growth.
The WB report comes amid a trade war between the United States of America and China which has been affecting the financial markets all over the world for months.
Compared with the last year’s 2.9 percent growth, the Bank expects that the USA will see a slower economic growth of 2.5 percent this year.
The China’s economic growth is expected to slow down from the last year’s 6.5 percent to 6.2 percent this year.
The emerging markets are expected to see a 4.2 percent GDP growth this year while the developed economic will grow at a rate of two percent.
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