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Serbia’s economic growth this year could be around two percent

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Milojko Arsić, professor of the Faculty of Economics in Belgrade and editor-in-chief of “Quarterly Monitor”, estimated today that “the growth of the gross domestic product (GDP) in Serbia in 2023 could amount to around two percent”, but he added that “those estimates, for now, preliminary and conditional and can be changed several times”.

“As we see when it comes to forecasts by international financial organizations and the European Union, they change from month to month.” At one point they are very pessimistic, when the Chinese economy works then they are optimistic. 

When a new problem appears, the forecasts are broken again, so we have a large number of uncertain circumstances. It’s hard to make some forecasts that you could firmly stand behind,” Arsić told reporters ahead of the promotion of the 71st issue of the “Quarterly Monitor” newsletter.

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He said that at the end of last year in Serbia, similarly to Europe, “there was a significant slowdown in GDP”.

“In the first half of last year, we had a GDP growth of around four percent, in the second half of the year the growth was around 0.7, 0.8 percent, and in the last quarter the growth was only 0.4 percent.” This is also happening in other European countries, where the movement shows instability,” Arsić said.

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