The European Bank for Reconstruction and Development (EBRD) has retained its projection of Serbia’s GDP growth at 3.3% in 2022, but lowered its projection for 2023. In its September report, it says that next year’s GDP growth is expected to also be 3.3%, which is 0.7% less than in the previous projection.
In its analysis of economic trends in Serbia, the EBRD says that the economic recovery witnessed in 2021 continued into the first half of 2022, albeit at a slower pace, FoNet reports.
– GDP growth is projected at 3.3% in 2022 and 2023, with risks to the near term reflected in elevated inflation, weighing on disposable incomes, and worsening external demand due to the anticipated slowdown in EU markets – says the EBRD report.
They note that global rises in food and oil prices helped drive the annual inflation rate in Serbia to 13.2% in August 2022. In response, the National Bank of Serbia has increased the key interest rate six times in 2022, from 1% in March to 3.5% in September.
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