EBRD lifts Serbia’s 2017 GDP growth forecast on rising demand
, NewsThe European Bank for Reconstruction and Development (EBRD) raised on Thursday its projection for Serbia’s 2017 economic growth to 2.9% from 2.7%.
“The main growth driver will be domestic demand, with investment growth supported by an improved business climate based on successful fiscal consolidation and ongoing structural reforms,” the lender noted in its latest Regional Economic Prospects report.
Serbia’s economy is expected to grow by 3.0% in 2018, as rising employment and wages will support a further consumption recovery, the EBRD said.
The main risks for the projection are tilted to the downside due to a high base from an extraordinary agricultural output in 2016, and a possible slowdown in fiscal and structural reforms, including the restructuring of state-owned enterprises, the bank noted.
“Medium-term prospects are favourable, but will depend on the pace of reforms envisaged in the current IMF programme, further improvements in the investment climate, support for NPL resolution and corporate restructuring to unlock credit growth, and acceleration of the implementation of major infrastructure projects”, the EBRD said.
Serbia’s economy grew by 2.8% in 2016, up from 0.8% a year earlier.
The EBRD predicts economic growth in Southeastern Europe (SEE) to stand at 3.1% in 2017 and 3% next year.
LATEST NEWS
- May 11, 2023 Mining Industry, Science and Communications, bridging the gaps
- May 11, 2023 Communicating Energy, new tech industries communications
- May 9, 2023 Serbia economy briefing: Transformation of “Elektroprivreda Srbija”
- April 24, 2023 Without sustainable mining, there is no renewable future
- March 25, 2023 Europe revives mining to reduce dependence on the import of key raw materials, the advantages of Serbia as materials supplier
- March 8, 2023 Calcium Carbonate Industry, Reshaping the Market Growth, Serbian supplier to match European industrial demand
- February 28, 2023 Serbian exploitation miner Belkalhan could become EU primary supplier of Graphite critical raw material
- February 28, 2023 Calcite/calcium carbonate premium quality supplier from Serbia opening supply contracts for 24,25, pharmaceutical/chemical/food processing industry opportunity for JV
- February 16, 2023 Serbian Belkalhan calcite & graphite mining developer invites JV partners for joint critical raw materials exploitation
- February 15, 2023 Petroprocess to modernize EPS power plant CEMS system with state of the art equipment
- June 4, 2023 Serbia, Is gold laying under the dust?
- June 4, 2023 Air Serbia’s popularity and traffic are increasing
- June 4, 2023 Is gold fever taking over in Serbia?
