INTERVIEW
Three Pillars Of Stability And Growth CHRISTOPHER SHELDON, World Bank Country Manager for Bosnia-Herzegovina and Montenegro
The strength and resilience of the economic recovery over the medium term depends on the government’s growth strategy. The first cornerstone is financial sector stability. The second requires making health, education and social protection services more inclusive and efficient, and the third cornerstone is better natural resource management
T
he economic crisis resulting from COVID-19 is the deepest the world has seen since WWII. The majority of world economies suffered recessions in 2020 and most of them are showing signs of faster than expected recovery in
2021. Montenegro is no exception: it was hard hit by the COVID-19 crisis, given its dependence on tourism. And while tourism was the main culprit for the economic downturn in 2020, it is now driving the economic revival, says Christopher Sheldon, World Bank
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Country Manager for Bosnia-Herzegovina and Montenegro. “A much stronger than expected peak summer season has led to a faster recovery of economic activity. We now estimate Montenegro’s economy to grow by almost 11 per cent in 2021.”
