BELGRADE (Serbia), November 24 (SeeNews) – The World Bank expects Serbia's economy to grow by up to 3.5% in 2021, the World Bank's country economist in Serbia, Lazar Sestovic, said on Tuesday.
"For Serbia, we expect an economic recovery of 3.0%-3.5% for next year," Sestovic said at the Belgrade Economic Forum, according to a video file posted on the website of Tanjug news agency.
The first half of next year may also be problematic from the point of view of economic growth, as the anti-COVID-19 vaccination of a critical mass of people is expected in the middle of 2021, Sestovic noted.
"Therefore, we a little less optimistic. According to the latest estimation, the world's economic growth was expected at about 6% in 2021 and now we speak about an increase of between 4% and 5% next year," he said.
In its June economic prospects report, the World Bank said it expects Serbia's economy to shrink by 2.5% this year before growing by 4.0% in 2021, while in its latest semiannual Western Balkans economic report issued in October it estimated the country's GDP will fall by 3.0% in 2020 before growing by 2.9% next year.
Serbia’s real GDP declined by 6.4% year-on-year in the second quarter of 2020 after growing by a real 5.0% in the first quarter, according to the national statistical office.