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Unless EU aspirant Montenegro adopts a new economic growth strategy that would boost productivity and human capital, its incomes will not converge with average EU levels in the next 40 years, the World Bank warned on Tuesday. The tiny Adriatic country, which started EU accession negotiations in 2012, hopes to speed up its integration with the wealthy 27-member bloc after adopting a comprehensive set of legal frameworks aligned with the European Union. But its growth strategy, which so far has been based mostly on attracting a few large investment projects in transport, energy or tourism, has left the economy more vulnerable to external shocks, making it hard to maintain an average 3% growth rate, the bank said in a report.

Federation of bosnia and herzegovinaBosnia herzegovinaChristina fincherChristopher sheldonWorld bankEuropean unionWorld bank countryWorld bank country managerDaria sito sucic