January 26 (SeeNews) - Serbia's annual economic growth is projected to gradually quicken to 4.3% in 2026, from an estimated 2.5% in 2023, the government said.
The gross domestic product (GDP) is expected to increase by 3.5% in 2024 and by 4.0% in 2025, the government said in its 2024-2026 economic reforms programme, published on its website last week.
Private spending growth is expected to accelerate to 4.3% this year, from the estimated 1.0% in 2023, but slow to 3.4% in 2025 and 3.3% in 2026, the document reads.
At the same time, government spending is expected to rise 1.5% in 2024, and to increase by 1.1% and 1.8%, respectively, in the next two years, after shrinking 1.3% in 2023.
Gross fixed capital formation will expand by 6.9% in 2026, building up on the projected growth of 6.0% for 2025, and the 5.2% rise expected for 2024.
Exports of goods and services, which rose 3.0% last year, are seen going up by 8.1% this year, and by 10.5% and 11.5%, respectively in 2025 and 2026.
Imports of goods and services, which fell 1.4% in 2023, will increase 8.4% in 2024, 9.2% in 2025 and 10.2% in 2026.
The consolidated fiscal deficit is expected to shrink to 1.5% of GDP in each of 2025 and 2026, from the projected 2.2% of GDP for this year and the estimated 2.8% in 2023.
Public debt is seen at 50% of GDP in 2026, versus 50.7% in 2025, 51.7% in 2024 and 53.3% in 2023.
Earlier in January, the World Bank said it expects Serbia's economy to expand by 3% in 2024, and by 3.8% in 2025.