EBRD updates the Serbian GDP growth forecast for 2024 - from 2.5% to 3.5%

The European Bank for Reconstruction and Development (EBRD) announced today that it has revised its forecast for the growth of Serbia's gross domestic product (GDP) for this year from 2.5% to 3.5%, which, as pointed out, is based on on the strong growth of industrial production, retail trade and tourism.

In 2025, the EBRD expects that the GDP growth of Serbia will reach four percent, as per the announcement.

As specified, the previous GDP growth forecast for 2024 of 2.5% was made in September last year, and the upward revision for this year reflects strong growth in the first half of the year, driven by domestic demand and investments financed by the European Union (EU), partly as a result of falling inflation and a relatively mild fiscal policy.

The forecasts were released as part of the EBRD's Regional Economic Outlook report, which predicts growth in the Western Balkans to decrease from 3.4 percent in 2022 to 2.5 percent in 2023, as persistently high inflation holds back domestic demand and suppresses EU demand - the report states.

EBRD Evropska banka za obnovu i razvoj Beograd

EBRD

GDP

GDP growth