11. May 2017

EBRD upgrades growth forecast for Serbia to 2.9 percent

The EBRD on Wednesday upgraded its 2017 GDP growth forecast for Serbia to 2.9 percent - up by 0.2 percentage points from last November's 2.7 percent. The forecast is included in the latest report on the The European Bank for Reconstruction and Development (EBRD) region's economic outlook, published on its website. After strong momentum in 2016, when economic growth rose to 2.8 percent, Serbia will have growth of 2.9 percent in 2017 and 3 percent in 2018, and the driver of growth will be domestic demand, the bank said. "This year's economic growth in Serbia will be lower than the average for the region of South East Europe of 3.1 percent, and lower than growth in Montenegro, Albania and Kosovo," EBRD said. The main driver of growth in Serbia will be domestic demand, with an increase in investments and an improved business environment, in the light of the successful fiscal consolidation and ongoing structural reforms. The increase in employment and salaries will incite a further recovery in spending, the EBRD stated in the report titled Regional Economic Prospects. @b92

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