Montenegro's claims on private sector (annual growth as % of broad money) was 11.76% in 2024, the latest year in the World Bank's World Development Indicators. That is up 12.28 percentage points from -0.52% in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 11.76% | 2024 |
| Five years earlier | 4.41% | 2019 |
| Ten years earlier | -0.52% | 2014 |
| Highest | 153.11% | 2007 |
| Lowest | -25.21% | 2009 |
| Average since 2015 | 5.81% | 2015–2024 |
| First recorded | 39.77% | 2003 |
What the numbers say
In 2024, Montenegro's claims on private sector (annual growth as % of broad money) rose 6.3 percentage points on 2023 (from 5.46% to 11.76%).
Across the 20 yearly changes before that (2004 to 2023), the average change was −1.72 percentage points and a typical year strayed about 36.96 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 74.56 percentage points in 2006 and the biggest yearly fall was 123.14 percentage points in 2008. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains 22% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Montenegro had the 4th highest value of the 22 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Montenegro in the 2024 ranking
What this measures
Claims on private sector include gross credit from the financial system to individuals, enterprises, nonfinancial public entities not included under net domestic credit, and financial institutions not included elsewhere. Broad money is the sum of all liquid financial instruments held by money-holding sectors that are widely accepted in an economy as a medium of exchange, plus those that can be converted into a medium of exchange at short notice at, or close to, their full nominal value. This indicator represents the annual percentage growth in the ratio of claims to broad money.
All 22 values
| Year | Claims on private sector (annual growth as % of broad money) |
|---|---|
| 2024 | 11.76 |
| 2023 | 5.46 |
| 2022 | 7.42 |
| 2021 | 3.22 |
| 2020 | 3.22 |
| 2019 | 4.41 |
| 2018 | 8.18 |
| 2017 | 6.86 |
| 2016 | 5.22 |
| 2015 | 2.31 |
| 2014 |
Claims on private sector (annual growth as % of broad money) in nearby economies
- Albania — 6.12% (2025)
- Armenia — 24.02% (2025)
- Azerbaijan — -3.14% (2025)
- Belarus — 6.98% (2021)
- Bosnia and Herzegovina — 6.25% (2025)
- Bulgaria — 8.17% (2024)
- Czechia — 3.28% (2024)
- Denmark — 5.81% (2024)
- Georgia — 17.63% (2025)
More financial sector data for Montenegro
- GDP deflator (base year varies by country) — 175.44 (2025)
- GDP deflator, linked series (base year varies by country) — 175.44 (2025)
- DEC alternative conversion factor (LCU per US$) — US$0.89 (2025)
- Inflation, GDP deflator (annual % growth) — 4.03% (2025)
- Inflation, GDP deflator, linked series (annual % growth) — 4.03% (2025)
- Official exchange rate (LCU per US$, period average) — US$0.89 (2025)
- Domestic credit to private sector by banks (% of GDP) — 50.94% (2025)
- Broad money (current LCU) — 4.77 billion (2025)
- Broad money (% of GDP) — 58.42% (2025)
Reading data like this
Questions people ask
- What is Montenegro's claims on private sector (annual growth as % of broad money)?
- 11.76% in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2003?
- It is down 28.01 percentage points from 39.77% in 2003. The highest value was 153.11% in 2007 and the lowest -25.21% in 2009.
- How does Montenegro rank?
- 4th highest of 22 economies with data for 2024.
- Is the latest change in claims on private sector (annual growth as % of broad money) unusual for Montenegro?
- In 2024, Montenegro's claims on private sector (annual growth as % of broad money) rose 6.3 percentage points on 2023 (from 5.46% to 11.76%). Across the 20 yearly changes before that (2004 to 2023), the average change was −1.72 percentage points and a typical year strayed about 36.96 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator FM.AST.PRVT.ZG.M3, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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