Montenegro’s economy: current situation — analysis of indicators
10 September , 2025
GDP and economic growth
In 2024, Montenegro’s GDP growth was around 3.0%, and a similar rate is expected in 2025 — around 3.0–3.2%.
The overall forecast for the six countries of the Western Balkans, including Montenegro, is for economic growth of 3.2% in 2025
The World Bank previously gave a slightly more positive scenario — around 3.5% — but then lowered it to 3.2%
GDP
According to IMF estimates, the country’s nominal GDP in 2025 is expected to be around $8.56 billion.
Inflation
In 2024, the inflation rate was 3.4%, and a further decline to 2.9% is forecast for 2025, with an expectation of 2.3% in 2026.
The wiiw organization has also changed its forecast — inflation rose to 4.5% in May 2025, but the average annual estimate has been revised to 3.3%.
Thus, inflation in September 2025 could range from 3.0% to 4.5%, approximately 3–3.3%.
Unemployment
According to Trading Economics, the unemployment rate fell to 9.13% in June 2025 (from 9.66% in May).
According to Eurostat and Wikipedia, this figure was 9.1% in June 2025.
WIIW notes that for the first time, the rate fell below 10% — 9.9% (May 2025).
Thus, as of September 2025, unemployment fluctuates around 9–9.2%, likely having decreased slightly after the summer.
Additional macro indicators
Public debt: projected to grow to a level comparable to 65% of GDP by 2027.
Economic Freedom Index: according to the Heritage Foundation, Montenegro scored 63.8 points in 2025 — a moderately free economy, ranking 67th in the world on this indicator.
