The growth of the country gross domestic product (GDP) is expected to quicken to 3.8% in 2020, the Commission said in its Autumn 2019 Economic Forecast.
Serbia's unemployment rate is foreseen to decline to 10.5% this year from 12.7% in 2018, and to drop further to 8.9% in 2020.
In May, the Commission said in its Spring 2019 Economic Forecast that it has lowered its forecast for Serbia’s economic growth in 2019 to 3.1% from 3.8% projected earlier due to a slowdown in the country's major trade partners.
European Commission's outlook on the main economic indicators of Serbia (pct change), as per Autumn 2019 Economic Forecast:
2018 | 2019 | 2020 | |
GDP growth | 4.4 | 3.2 | 3.8 |
Current account balance (in billions of US dollars) | -2.6 | -3.1 | -2.9 |
Unemployment rate | 12.7 | 10.5 | 8.9 |