The Vienna Institute for International Economic Studies (WIIW) has downgraded its March forecast of economic growth for Western Balkan countries – Serbia, Croatia and Bosnia and Herzegovina – by an average 0.5 percent due to austerity measures and the floods that have hit the region.
According to the institute’s report, presented by economist Mario Holzner at a press conference on Thursday, economic growth will drop by 1 percent in Serbia and by 0.5 percent in Croatia.
According to the institute’s forecasts for 2015, the Serbian economy will stagnate, with Croatia’s economy expected to grow slightly – by 0.7 percent.
On the other hand, most economies in central, eastern and south-eastern Europe will this year grow more than expected, while average growth in 2014-2018 could be 2 to 3 percent annually reports Tanjug.
Source Balkans
