Serbia’s gross domestic product (GDP) will grow by 3.5% this year, the International Monetary Fund (IMF) said, revising downwards its 4.5% projection made in October.
In 2023, the IMF expects Serbia’s economic output to increase by 4%, the Fund said in the April 2022 edition of its World Economic Outlook report on Tuesday.
Consumer price inflation is seen quickening from 4.1% in 2021 to 7.7% this year, before easing to 4.7% in 2023, the Fund said.
The unemployment rate is projected to decline to 9.9% in 2022 from 10.1% recorded last year, before going down to 9.7% in 2023.
Serbia’s current account deficit is forecast to edge down to 6.1% of GDP in 2022, from 4.4% of GDP in 2021. In 2023, the current account gap is seen narrowing to 5.7%, according to the report.
The IMF also said it expects the GDP of Emerging and Developing Europe area comprising Serbia, Romania, Russia, Turkey, Poland, Ukraine, Hungary, Belarus, Bulgaria, and Croatia to drop by 2.9% in 2022 and grow by 1.3% in the year after.
The IMF cut the global 2022 economic growth forecast by 0.8 percentage points to 3.6%.
Earlier this month, the World Bank cut Serbia’s economic output growth forecast for 2022 to 3.2% from previously predicted 4.5%.
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