The European Bank for Reconstruction and Development (EBRD) updated today its forecasts of the regional economic perspective and for Serbia estimated that GDP growth in 2022 was 2.3 percent, and that it will be 2.0 percent this year. As announced by the EBRD, the estimate of GDP growth in Serbia this year was reduced by 1.3 percent compared to the last report from September last year.
The EBRD estimated that in 2024 GDP growth in Serbia will be 3.5 percent. For the region of the Western Balkans, it was estimated that the GDP growth in 2022 was 3.0 percent, that this year the GDP growth will be 2.2 percent, and in 2024 it will be 3.4 percent.
Compared to the last report and assessment of the EBRD from September, the estimated GDP growth for the Western Balkans this year was reduced by 0.8 percent, it was announced on the bank’s website.
High gas prices and inflation continue to weigh on the economic outlook, so output in the bank’s regions, which span three continents, is now expected to grow by 2.1 percent this year, up from the 3.0 percent forecast in the last report in September.
Growth forecasts have been adjusted downward in more than half of the 36 economies in which the EBRD works, with very few upward revisions, and growth in the bank’s regions is expected to increase to 3.3 percent in 2024.
Production is estimated to have grown by 3.2 percent year-on-year in the period January-September 2022 and by about 2.4 percent for the year as a whole – slower than in 2021, the year due to the war in Ukraine and the consequences of the corona pandemic.