- May 5, 2022
- Posted by: Stratford Team
- Category: Economy
Serbia’s economic growth will slow this year as several global crises, including the war in Ukraine, take their toll on the world economy. GDP growth in Serbia is projected to slow to 3.2 percent in 2022, despite a previous forecast of 4.4 percent, according to the Western Balkans Regular Economic Report released today.
Serbia rebounded strongly from the impact of the COVID-19 pandemic, posting real GDP growth of 7.4 percent in 2021, which was driven by strong private consumption and investment. The repercussions of the war in Ukraine, however, are weighing on Serbia’s exports, foreign direct investment, remittances and tourism revenues.
According to the report, Serbia will maintain macroeconomic stability despite prominent downside risks that could materialize in 2022. Raising inflation is likely to accelerate further, as in other countries in Eastern Europe, fueled by increases in global food and energy prices. The fiscal deficit could be higher…
