Serbia’s govt expects GDP to grow by 2.5% in 2023

Serbia's gross domestic product (GDP) grew by 0.7% in the first quarter of 2023, mainly due to success in the industry and agriculture sectors, prime minister Ana Brnabic was quoted as saying in a press release.

Inflation is slowing down and is expected to be at around 8% by the end of the year, Brnabic added.

The latest data published by the national statistical office showed that Serbia's consumer prices increased by 16.2% year-on-year in March, after rising by 16.1% the month before.

In April, the International Monetary Fund (IMF) said it expects Serbia's economy to grow by 2% this year, revising downwards its forecast for 2.7% growth made in October.

In 2022, Serbia's economic output increased by an estimated 2.3%.