Montenegro. According to
CountryAAH, Montenegro continued to establish itself as
an independent nation the year after the divorce from
Serbia. The country became a member of the International
Monetary Fund (IMF) and of the Council of Europe. A defense
pact was signed with the US and in October a so-called
Stabilization and Association Agreement was signed with the
EU. Thus, the first formal step on the road to being
accepted as a candidate country was taken, even though much
work remained, among other things. to overcome the
widespread corruption. Shortly thereafter, a new
constitution, which was drawn up in consultation with the
EU, was also adopted.
The economy appeared strong and there were warnings about
overheating. Direct foreign investment increased by 78
percent during the first half of the year, largely
consisting of land and property purchases on the Adriatic
coast. The economy was expected to grow by around 7 percent.
Growth occurred mainly in the service sector, not least in
the tourism industry.