In-depth country-focused analysis on Montenegro's economic, political and operational risk environment, complemented by detailed sector insight


Our comprehensive assessment of Montenegro's operating environment and the outlook for its leading sectors are formed by bringing together a wealth of data on global markets that affect Montenegro, as well as the latest industry developments that could impact Montenegro's industries. This unique integrated approach has given us an impeccable track-record for predicting important shifts in the markets, ensuring you’re aware of the latest market opportunities and risks in Montenegro before your competitors.

Country Risk

Montenegro Country Risk

BMI View:

Core Views

  • Although Kosovo and Serbia reached an agreement in August over major issues that divide them, we expect deep seated nationalist sentiment on both sides to continue obstructing the implementation of the deal for the foreseeable future. In particular, the status of Kosovo's Serb-dominated region of Northern Mitrovica will remain a major source of resentment.

  • The Stand-By Arrangement (SBA) agreed between the International Monetary Fund (IMF) and Kosovo in early June (which needs to be formally approved by the IMF Executive Board in July) is likely to have a destabilising effect on Kosovo's consumption-driven economic model. While the package, which is predicated on the implementation of structural reforms, aims to facilitate a shift in the economy towards an investment/export oriented model and away from its consumption...

Montenegro Industry Coverage (1)


Montenegro Telecommunications

BMI View:

BMI View : The Montenegrin telecommunications market, reflecting its small size, is effectively saturated and there are few opportunities left for new entrants and existing players alike. Mobile subscription growth is volatile as operators focus on extracting greater value from existing customers and emphasise postpaid products as part of their 3G/4G rollouts. Prontotel seems ready to take up the government's offer of a fourth mobile licence in 2015; we see no room for it here, although we acknowledge its need to reduce its exposure to its core business in the VoIP market. Incumbent Crnogorski Telekom 's success in building a converged services product - with TV at its centre - sets a template for alternative operators, but there are none with the resources, scale or ambition to follow...

Latest Montenegro Articles

  • We have revised down our CME milk price forecast for 2016 and now see price...

  • We believe that there is currently disconnect between oil prices and fundam...

  • Price-elastic consumption growth and more limited growth in supply will mai...


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