Podgorica, (MINA) – According to Minister of Finance Novica Vukovic, real growth of Montenegro’s gross domestic product (GDP) of 3 percent last year and 2.5 percent in the first quarter of this year exceeds the average of the European Union (EU) and the euro area.

He participated at the annual meeting of the Belgian-Dutch Constituency of the International Monetary Fund (IMF) and the World Bank, which brings together representatives of fiscal and monetary policy from 18 countries in Europe and beyond.

The Ministry of Finance stated in a press release that Vukovic addressed the highest representatives of fiscal and monetary policy and presented Montenegro’s economic and fiscal trends.

He said that the real GDP growth stood at 3 percent last year and 2.5 percent in the first quarter of this year, surpassing the average of the EU and the euro area.

“The growth comes with a strong increase in private consumption, investments, and foreign direct investments,” Vukovic said. He added that the reforms led to a significant increase in wages, all-time low unemployment rate of 9.91 percent, and higher pensions.