IMF: Slower economic growth and lower unemployment in Serbia

The International Monetary Fund (IMF) has reported that, of the developing countries and emerging economies in Europe, only Croatia and Hungary will have a lower economic growth than Serbia in 2016.

The growth of the gross domestic product (GDP) in the region in the current year has been projected by the IMF to be 3.3%, and at 3.1% in 2017.

Romania will have the biggest growth in the region at 5%, followed by Turkey with 3.3%, Poland with 3.1% and Bulgaria with 3%.

The Croatian GDP, according to the projection by the IMF, will grow by 1.9% this year, the Hungarian GDP will grow by 2%, whereas Serbia’s growth will be 2.5%.

The projection also encompasses Albania, Bosnia and Herzegovina, Kosovo, Macedonia and Montenegro, though individual data haven’t been published.

However, Serbia is “the leader” in the unemployment rate, which is significantly lower in most of the countries of the region, up to three times lower in Poland, Romania and Hungary. The unemployment rate in Serbia, according to the IMF, will be 18.6% in 2016 and 18.7% in 2017.

In 2016, Hungary will have the lowest unemployment rate at 6%, whereas in Poland and Romania it will be only slightly above 6%. In addition to Serbia, Turkey and Croatia will have double-digit unemployment rates this year, at 10.2% and 16.4% respectively.

(eKapija, 05.10.2016)

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