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Serbia's economy grows 2.5% in 2023 - prelim data

Jan 9, 2024, 1:07:11 PMArticle by Iskra Pavlova
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January 9 (SeeNews) - The Serbian economy expanded by an estimated 2.5% at constant prices in 2023, equal to the revised growth rate for the previous year, the country's statistical office said, quoting preliminary data.

Serbia's economy grows 2.5% in 2023 - prelim data
serbia.com

Gross fixed capital formation increased 3.5% last year, accelerating from 1.9% growth in 2022, the statistical office said in a data release published on its website.

Industrial production volume rose 2.4% last year, quicker than the 1.7% increase recorded in 2022.

The statistical office will publish a flash estimate of gross domestic product (GDP) growth in the last quarter of 2023 on January 31.

Serbia's economic output grew by a real 3.6% year-on-year in the third quarter of 2023, after increasing by an annual 1.6% in the previous quarter, the statistical office said in November, quoting non-seasonally adjusted data.

The government in Belgrade said in October it targets 3.5% GDP growth in 2024.

Also in October, the International Monetary Fund (IMF) said it expects Serbia's economy to grow by 3% in 2024, faster than the 2% increase predicted by the Fund for 2023.

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