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IMF confirms 3 percent GDP growth forecast for Serbia - Serbia Business

IMF confirms 3 percent GDP growth forecast for Serbia

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The IMF has confirmed the 3 percent GDP growth forecast for Serbia this year, while next year’s growth is estimated at 3.5 percent.

This institution published the latest World Economic Outlook during the traditional spring session of the IMF and World Bank in Washington DC.

The previous document of this kind published by the IMF in October 2016 predicted 2.8 percent GDP growth for Serbia in 2017. In March, after an IMF technical mission visited Belgrade, the institution raised the growth forecast to 3 percent.

At the time, head of the IMF Mission for Serbia James Roaf said that the country’s economic program gave good results and pointed out that GDP growth in 2016 reached 2.8 percent, along with increased investments, exports, and employment.

He said that fiscal indicators were better than the target, while the deficit was reduced to 1.4 percent of GDP, the lowest level since 2005, as public debt fell to 74 percent of GDP in 2016.

The unemployment rate had a downward trend, as did non-performing loans in the banking sector, the IMF official said.

When it comes to unemployment, the IMF predicts a rate of 16 percent this year, while it should fall to 15.6 percent in 2018.