Montenegro Credit to GDP
Domestic credit to private sector as % of GDP FS.AST.PRVT.GD.ZS
Montenegro's credit to gdp was 37.36% in 2025, ranked 77th globally. This represents a 17.5% decrease from 2024. Data from World Bank, covering 2002–2025.
Overview
Montenegro's credit to gdp stood at 37.36% in 2025, a decline of +7.92% from 2024. Based on recent trends, this figure is projected to reach 37.36% by 2025. Montenegro ranked 77th globally.
Montenegro’s credit to GDP ratio has risen sharply from an all‑time trough of 8.05 in 2002 to a peak of 86.61 in 2008, before settling at 37.36 in 2025, placing the country 77th globally. The rapid expansion during the mid‑2000s reflected strong borrowing amid post‑conflict reconstruction and integration into European financial markets, while the subsequent decline coincided with the global financial crisis and a tightening of fiscal policy. Over the 24‑year series, the ratio has more than quadrupled, indicating a pronounced shift toward external financing. Montenegro’s 2025 level is closely aligned with peers such as Guatemala (37.41) and Dominica (36.33), suggesting a comparable reliance on credit among small, transition economies. If domestic savings remain low and public investment continues to depend on external borrowing, the credit‑to‑GDP ratio is likely to edge upward, whereas fiscal consolidation or stronger internal financing could reverse the upward trajectory.
Data & projection
| Year | Credit to GDP | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 29.20% | - | - |
| 2026* trend | 33.28% | - | - |
| 2025* trend | 37.36% | - | - |
| 2025 | 37.36% | −7.92% | #77 |
| 2024 | 45.27% | +2.89% | #63 |
| 2023 | 42.38% | −4.77% | #77 |
| 2022 | 47.16% | −5.45% | #86 |
| 2021 | 52.61% | −7.95% | #97 |
| 2020 | 60.56% | +11.02% | #106 |
| 2019 | 49.54% | −0.69% | #101 |
| 2018 | 50.23% | +0.78% | #98 |
| 2017 | 49.45% | −0.04% | #100 |
| 2016 | 49.49% | −1.42% | #101 |
| 2015 | 50.92% | −1.24% | #98 |
| 2014 | 52.15% | −2.11% | #103 |
| 2013 | 54.26% | −1.01% | #110 |
| 2012 | 55.27% | −0.48% | #113 |
| 2011 | 55.75% | −10.82% | #112 |
Detected Pattern
Analysis
Montenegro matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw credit to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
Montenegro's credit to gdp was 37.36% in 2025. Ranked 77th globally. This represents a 17.5% decrease from the previous year.
Montenegro's credit to gdp peaked at 86.61% in 2008.
The lowest credit to gdp in Montenegro was 8.05% in 2002.
Montenegro ranks 77th globally in credit to gdp as of 2025.
The World Bank indicator code is FS.AST.PRVT.GD.ZS. Data sourced from World Bank.
Montenegro's credit to gdp is projected to reach 37.36% by 2025 based on trend extrapolation.
The credit to gdp of Montenegro in 2025 was 37.36%. This ranks 77th in the world.
Cite this page
@misc{historysaid_montenegro_credit-to-gdp,
title = {Montenegro Credit to GDP},
url = {https://historysaid.com/montenegro/credit-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}