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IMF raises forecast for Serbia’s 2021 GDP growth to 6.5%

Author Radomir Ralev
IMF raises forecast for Serbia’s 2021 GDP growth to 6.5% Source: serbia.com

BELGRADE (Serbia), October 13 (SeeNews) - Serbia’s economy is expected to expand by a real 6.5% in 2021, the International Monetary Fund (IMF) said, improving its forecast for a 5.0% increase made in April.

Serbia's gross domestic product (GDP) is expected to grow by 4.5% in 2022 and by 4.0% in 2026, the IMF said in the October 2021 edition of its World Economic Outlook report.

In 2020, the country's economy contracted by 1.0%, the IMF said.

The Fund expects an average consumer price inflation of 3.0% in Serbia in 2021, accelerating from 1.6% last year. The average inflation is seen at 2.7% in 2022 and 2.8% in 2026.

Serbia’s current account gap is projected at 4.1% of GDP in 2021 and 4.4% next year. The deficit is expected to rise to 4.6% of GDP in 2026. The current account gap stood at 4.3% of GDP last year, according to the report.

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