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EU Commission lifts Serbia's 2019 GDP growth forecast to 3.2% - table

Author Radomir Ralev
EU Commission lifts Serbia's 2019 GDP growth forecast to 3.2% - table Source: EPS

BELGRADE (Serbia), November 7 (SeeNews) - The European Commission (EC) said on Thursday it has increased its forecast for Serbia’s economic expansion in 2019 to 3.2% from 3.1% projected in May.

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
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