{
  "title": "Montenegro: 2025 Article IV Consultation-Press Release; and Staff Report",
  "publication": "IMF Staff Country Reports, November 20, 2025",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2025/11/19/montenegro-2025-article-iv-consultation-press-release-and-staff-report-571935",
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  "summary": "Following a robust post-pandemic recovery (9 percent average growth from 2021–23), growth decelerated to 3.2 percent in 2024 and the first half of 2025, driven partially by softening tourism. Inflation has risen from 1 percent in September 2024 to 4.",
  "publishDate": "2025-11-20",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Macroeconomic developments",
      "content": "- Growth:\n  - Following a robust post-pandemic recovery of 9 percent average growth from 2021–23, growth decelerated to 3.2 percent in 2024 and the first half of 2025.\n  - The deceleration was driven partially by softening tourism.\n- Inflation:\n  - Inflation rose from 1 percent in September 2024 to 4.9 percent as of September 2025, reflecting a combination of external, domestic demand, and wage pressures."
    },
    {
      "heading": "Policy aims and context",
      "content": "- The 2025 Article IV consultation aims to:\n  - Address emerging macro imbalances.\n  - Help position the economy for accession to the European Union (EU), which the authorities are targeting by 2028.\n- Subject areas highlighted: Fiscal law, Fiscal policy, Fiscal stance, Labor, Public debt, Wages."
    },
    {
      "heading": "Key statistics",
      "content": "- Average growth (post-pandemic recovery, 2021–23): 9 percent\n- Growth (2024 and H1 2025): 3.2 percent\n- Inflation (September 2024): 1 percent\n- Inflation (as of September 2025): 4.9 percent\n- EU accession target: 2028\n\nInternational Monetary Fund. Montenegro: 2025 Article IV Consultation-Press Release; and Staff Report\n\n---\n\n Content in this bundle\n\n- 1mneea2025002-source-pdf\n  - 1mneea2025002-source-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1mneea2025002-source-pdf (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2025/11/19/montenegro-2025-article-iv-consultation-press-release-and-staff-report-571935"
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    "Published: November 20, 2025",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798229030076.002",
    "Growth:",
    "Inflation:",
    "The 2025 Article IV consultation aims to:",
    "Subject areas highlighted: Fiscal law, Fiscal policy, Fiscal stance, Labor, Public debt, Wages.",
    "Average growth (post-pandemic recovery, 2021–23): 9 percent",
    "Growth (2024 and H1 2025): 3.2 percent",
    "Inflation (September 2024): 1 percent",
    "Inflation (as of September 2025): 4.9 percent",
    "EU accession target: 2028",
    "**1mneea2025002-source-pdf**"
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