The reputable ING group, one of the largest banks in the world, did not spare words of praise in the expert analysis for the economic policy of the President of Serbia, Aleksandar Vucic, and the Government, while they ranked Croatia among the worst.
Thanks to the good reaction and moves of the Prime Minister of Serbia and the Government, Serbia will be one of the few countries that will fully recover economically from the consequences of the coronavirus pandemic by the end of 2021, is the result of the ING Group’s analysis.
This Dutch corporation, which is among the 10 largest in Europe and the 30 largest in the world, estimates that our country will record economic growth of 5.5 percent this year.
As it is stated, their experts have been constantly optimistic about Serbia’s growth prospects for some time.
– Serbia should be one of the few countries that will completely return to the level before the pandemic by the end of 2021, when we forecast GDP growth of 5.5 percent – say bankers from the ING group.
Economist Sasa Djogovic also says in a statement for Vesti that the Serbian economy came out of the crisis caused by the corona virus pandemic very successfully.
– The economic structure of our country is such that it does not rely on tourism, the branch that suffered the biggest blow. Serbia had an excellent agricultural year. Measures have also been taken to help recover from the effects of the pandemic. All that influenced Serbia to bear the economic consequences of the epidemic well – Djogovic estimates and adds that he expects more active economic growth this year.
Economist Danilo Sukovic agrees with him, who points out that the excellent export of agricultural products in the past year helped the recovery of our country from the crisis of corona virus.
The key to good management of the economic slowdown in 2020 was generous fiscal support, which basically equated the budget deficit of almost nine percent of GDP, according to ING. For 2021, the Serbian authorities, in agreement with the IMF, set a goal of a budget deficit of three percent of GDP, Vesti reports.
