May 9 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) affirmed on Wednesday its projection for Serbia's economic growth in 2018 at 2.9% forecast in November.
After seeing growth of 2.8% in 2016, Serbia's economy expanded only by 1.9% last year, on the back of somewhat weaker exports and fast imports growth, the EBRD said in its new Regional Economic Prospects report.
"Faster growth should be supported by the low base as well as strengthening consumption and investment activities, with offsetting effects from higher imports", the report reads.
In 2019, the EBRD expects Serbia's economic expansion to pick up to 3.5%.
The bank warned that a possible slowdown or pause in fiscal and structural reforms represents the main downside risk to the projection.