10 Most Conservative Countries in the World and their Economic Development

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7. Montenegro

Personal Income Tax Rate (2021): 23%

Corporate Tax Rate (2021): 9%

Annual Social Assistance Spending as a percentage of GDP (2018-2020): 1.75%

Insider Monkey rating: 0.168 out of 1

Montenegro reports a GDP per capita of $28,000 as of 2023, according to the IMF, and a GDP growth of 4.5%. Montenegro spent an annual 1.75% of its GDP on social welfare from 2018 to 2020. It is ranked 7th on our list with a 9% corporate tax rate and a 23% personal income tax rate.

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