BELGRADE (Serbia), June 9 (SeeNews) – The World Bank said it expects Serbia's economy to grow by 5.0% this year, 1.9 percentage points (pp) above the forecast it made in January.
Serbia's economic growth in 2022 is estimated at 3.7%, versus a 3.4% rise prediction made in January, the World Bank said in its June 2021 Global Economic Prospects report published on Tuesday.
The World Bank forecasts a 3.9% growth of Serbia's economy in 2023.
The country's economic output declined by 1.0% in 2020, the World Bank said.
"Growth in the Western Balkans is forecast to rebound to 4.4% this year and moderate to 3.7% in 2022, assuming consumer and business confidence revives as vaccination takes place and political instability eases," the World Bank said.
The rise of the economic output of the Western Balkans region comprising Albania, Bosnia and Herzegovina, Kosovo, North Macedonia, Montenegro, and Serbia, is estimated at 3.8% in 2023.