Podgorica, (MINA-BUSINESS) – According to an analysis of the Montenegrin economy published by the Chamber of Commerce (PKCG), Montenegro’s growth momentum is gradually slowing, with clear signs that its existing growth model, based on consumption, tourism and imports, is reaching its limits. 

Over the next decade, economic growth should be measured by its quality and sustainability rather than its pace.

The analysis, covering the period from 2006 to 2025, was presented at the PKCG on Thursday and concludes that, after two decades of growth, crises and recovery, Montenegro’s economy is entering a more mature stage of development.

The report identifies five phases of economic development over the past two decades: expansion and investment optimism (2006–2008), crisis and macroeconomic adjustment (2009–2012), fiscal stabilization and investment expansion (2013–2019), the pandemic shock (2020–2021), and inflationary pressures exacerbated by geopolitical crises and global supply chain disruptions, accompanied by fiscal transformation (2022–2025).

According to the PKCG, during this period nominal gross domestic product (GDP) increased by 275 percent, from €2.17 billion to €8.17 billion, while real economic activity expanded by 65 percent. GDP per capita reached €13,100 last year.