Montenegro country report - August, 2013

September 12, 2013

IMF raised its forecast for this year's economic growth in Montenegro to 1.5%. Unemployment rate rose to 13.31% in early September from 13.0% a month earlier. CPI inflation accelerated to 2.7% year on year in July from 2.2% the month on higher food, alcoholic beverages and health prices.

Industrial production increased 5.1% year on year in July, tumbling from a 19.0% year on year increase the month before, as rising manufacturing output was partly offset by falling mining and quarrying and utilities production.The tourism sector generated EUR 345mn in income in January-July, accounting for 9.8% of the full-year GDP forecast.

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