The World Bank anticipates that Serbia’s economy will expand by 3.5 percent in 2024, picking up pace to 3.8 percent in 2025 and four percent in 2026, according to the latest Global Economic Prospects report released today by the World Bank for June.
In the Western Balkans region, growth is projected to reach 3.2 percent in 2024 and accelerate further to 3.5 percent in 2025 and 3.8 percent in 2026, as outlined in the report. Moreover, the Bank has revised its global economic growth forecast for 2024 from January’s 2.4 percent to 2.6 percent, primarily due to increased demand in the United States.
Looking ahead, global economic growth is expected to hover around 2.7 percent in 2026 and 2027, which falls below the average ten-year economic growth of 3.1 percent in the pre-pandemic decade.
The forecast for China’s economic growth in 2024 has been upwardly revised from 4.5 to 4.8 percent compared to January. Meanwhile, the prediction for eurozone economic growth remains steady at 0.7 percent.
The World Bank projects that the US economy will expand by 2.5 percent in 2024, representing a significant uptick in expectations compared to January’s 1.6 percent.
While global economic growth is slowly stabilizing and inflation has receded to a three-year low, the report underscores the ongoing quest for a reliable path to prosperity.
