According to the latest forecast report of the Vienna Institute for International Economic Research, the Montenegrin economy will contract by 8% due to a strong dependence on tourism. However, the report predicts that Montenegro's economy will strengthen by 5% next year.
Croatia is expected to face the largest reduction in real GDP - by 11%.
Croatia is followed by Slovenia (9,5%), Slovakia (9%) and Montenegro (8%), which indicates the particular dependence of these countries on foreign trade and / or tourism.
The economies of Northern Macedonia, Albania and Bosnia and Herzegovina are expected to contract by 5%, while the economy of Serbia will experience a contraction of 4%.
The Vienna Institute for International Economic Research predicts that GDP in Turkey will fall by 6% and 7% in Russia.