EconomyMontenegro was the smallest of the six constituent republics of the former Yugoslavia. Civil war and economic sanctions in the 1990s halved its economic output, and destroyed much of its infrastructure and industrial capacity. However, since the fall of Slobodan Milosevic in 2000 the economic outlook has brightened. In 2005, economic growth was 4.1%, inflation 1.8% and unemployment 18.4%.
Agriculture is now mainly geared to domestic consumption. The country has a resilient mining industry that produces coal, copper ores, bauxite and more. However, service industries will be the future of Montenegro’s economy. Tourism in particular is expected to grow at 10% annually until 2016.
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