NBS Revises Projection of Real Growth of GDP for 2020 – “Serbia's economic result to be -1.0%, maybe better”

The National Bank of Serbia has revised the central projection of the real growth of the GDP for 2020 from -1.5% to -1.0%, with the possibility of even having a better result at the end of the year, even with all the uncertainties and risks coming from the international environment, the governor's cabinet announced.

– Considering that the Serbian economy has been recovering more quickly than what was initially expected for the fourth month in a row and the fact that, in certain parts of the economy, the pre-crisis level of activities has already been reached, the NBS has revised the central projection of the real growth of the gross domestic product for 2020 from -1.5% to -1.0%. When it comes to risks, the NBS estimates that the risks of the 2020 projection are asymmetrical upwards, that is, it sees the possibility of the result being even better than -1.0% at the end of the year – the press release says.

On the other hand, it is added, “regarding the economic outlook for this and the next year, we are facing pronounced and often exaggerated pessimism of certain international financial institutions”.

Narodna banka Srbije Beograd

Svetska Banka-WB Beograd

EBRD Evropska banka za obnovu i razvoj Beograd

EBRD London

National Bank of Serbia

NBS

World Bank

European Bank for Reconstruction and Development

EBRD

projection of GDP growth for 2020

GDP growth