Global economic crisis damages Montenegro for EUR 500m

The Government of Montenegro directly invested around EUR 300m for help to the economy, banks and citizens and the biggest part of the amount went to the Aluminum Plant (KAP) and Zeljezara. As a consequence of the global crisis, Montenegro suffered a direct loss of at least EUR 500m, counting only the damage because of the current gross domestic product (GDP), which was lower than expected.

Indirect damages were much higher because the amount of EUR 500m does not include the losses of the fall in the value of real estate, of the market capitalisation of Montenegrin stock exchanges and losses of companies and banks. The crisis also postponed the realisation of infrastructural projects.

News source: Limun.hr link: article