The World Bank has revised its prediction for Serbia’s economic growth this year, raising it from three to 3.5 percent, as revealed during the unveiling of the World Bank’s “Regular Economic Report for the Western Balkans” in Belgrade. Lazar Šestović, a senior macroeconomist at the World Bank for Serbia, noted that projections for 2024 have been upgraded to 3.5 percent, citing an uptick in investments, thus anticipating a slightly stronger growth trajectory for the year.
“We’ll be monitoring first-quarter estimates closely; indications suggest that the recovery momentum is sustained, prompting our decision to elevate the forecast for 2024,” Šestović remarked.
In its October assessment, the World Bank anticipated Serbia’s economic expansion to accelerate from two percent in 2023 to three percent in 2024, further climbing to 3.8 percent by 2025.
Šestović emphasized that Serbia experienced an economic upswing in the latter half of 2023, culminating in a 2.5 percent GDP growth for the entire year. “We saw a 2.5 percent economic growth in 2023, and we anticipate a rise to around 3.5 percent in 2024,” he stated.
He further projected Serbia’s economic growth to range between three and four percent in the forthcoming years.
Additionally, the World Bank foresees a continued decrease in inflation in Serbia, with an expected rate of 3.7 percent by year-end.
