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EBRD raises 2016, 2017 GDP growth projections for Serbia

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After a strong momentum (2.9 pct y-o-y) in the first half of 2016, the Serbian economy is expected to grow by 2.5 pct in 2016 and by 2.7 pct in 2017, says the EBRD’s latest Regional Economic Prospects report.

The EBRD has thus revised upwards its May projections for Serbia by 0.7 pct for 2016 and 0.4 pct for 2017.

“Private investments will continue to be the main growth driver, supported by the recovery of consumption, partially offset by declining contribution from net exports.”

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“The main upside risk for the projection comes from the potential upscaling of production in the recently privatised large steel mill where the Chinese owner announced ambitious investment and production plans while future oil price developments and possible weak external demand, in particular for the automobile sector, may be a drag on growth next year,” the report said.

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