GDP down by 4%
09.11.2009
Montenegro’s economy fell during the third quarter of this year, said Deputy Prime Minister Vujica Lazovic. GDP fell by 4% between January and September, while the economy suffered a reduction of 3.5% in the first six months of the year.
The main cause is the deep depression in the industrial sector. The main problem for the economy, explained the Prime Minister, is liquidity in the real economy. In any case low inflation and the good condition of the tourism industry partially made up for the fall.
The Montenegrin authorities had predicted a block in GDP at 0%, but the latest figures indicate that this prediction is optimistic.
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