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“GDP grew at 2.7pct, 2016 best year in quarter century” - Serbia Business

“GDP grew at 2.7pct, 2016 best year in quarter century”

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Serbia’s overall economic activity, measured in GDP and indicated in permanent prices, saw an estimated 2.744 pct growth in 2016 compared to 2015.

The national statistical office announced this on Thursday.

Economically, 2016 has been the best year in the past quarter of a century at least, the office’s director Miladin Kovacevic said at an annual press conference in the Serbian government building.

“I could compare 2016 to, say, 1990. As things stand, based on figures for the first 11 months, GDP growth is 2.744 pct – it could be even more once we get the December 2016 data in January,” he said.

The physical volume of industrial output rose by 4.3 pct in 2016 compared to last year, with agricultural output rising by 8.1 pct, making 2016 an excellent year for the agriculture sector, the statistical office also said.