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BELGRADE (Serbia), December 3 (SeeNews) - Serbia's economic growth may reach 3.8% this year, before accelerating to above 4% in 2020, finance minister Sinisa Mali has said.
"In 2019, the economic growth may be higher than the projected 3.5%, reaching 3.7% - 3.8%, and next year it may exceed 4%," Mali said in a press release on Monday.
According to Eurostat data, Serbia ranked first in Europe in terms of economic growth in the third quarter, together with Hungary, backed by intensive investment activity and rising household consumption, the finance ministry said in the press release.
Serbia's gross domestic product (GDP) grew by a real 4.8% year-on-year in the third quarter of 2019, the country's statistical office said on Monday. On a quarterly comparison basis, Serbia's economy expanded by 2.2% in the third quarter of 2019.
"In the next five years, we will have big investments, aimed primarily at better living standards of Serbian citizens. This will contribute to job creation across the country, and will provide additional impetus to economic growth," Mali said.
Last month, Serbia's central bank upgraded its economic growth forecast for the country to 3.6% in 2019 from 3.5% projected earlier. Serbia's GDP grew by 4.3% last year.