The ILO and Montenegro
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© Andrej Isaković/AFP/Europress
About the ILO in Montenegro
An advanced EU accession candidate hit hard by the pandemic
The COVID-19 pandemic hit the tourism-dependent country particularly hard. GDP dropped by 15% in 2020. The economy recovered faster than expected from the pandemic with an estimated GDP growth rate of 12% in 2021. However, the much-needed recovery of labour markets is lagging.
According to ILO calculations, the country saw a decline in working hours of 11.4% in 2020 which is equivalent to 30,000 full time jobs. In 2021, the loss of working hours decreased but was still at 6.1% (equivalent to the loss of 16,000 full-time jobs). For 2022, ILO models predict a light increase of working hours of 2%, but there are a lot of uncertainties concerning the pandemic and the new tourist season. Continue reading
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