According to the new IMF report, Croatia and Montenegro will suffer three times more from the economic recession than Serbia due to the coronavirus pandemic.
After the World Bank had already estimated the effects of the pandemic in the region, now the IMF has conducted an analysis which says that Serbia would be in the best position economically in the region after the pandemic subsides.
The latest estimates of the International Monetary Fund (IMF) show that this year the Croatian economy could register a 9% decline, and this would be the biggest decline among developing countries in Europe. On the same list, this international financial institution has ranked Serbia in the best position.
Analyzing nine countries in the region, the IMF says Serbia will experience the lowest decline in economic activity this year, -3%. Hungary was ranked second, with an economic decline of -3.1%, followed by North Macedonia and Bulgaria.
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The biggest economic decline will be recorded by Croatia and Montenegro (both -9%).
The IMF also estimates that Serbia will experience an impressive 7.5% economic growth next year and will be a leader in the region. At the same time, according to this international financial organization, Croatia’s economic growth will be 4.9%, Hungary’s 4.2%, Montenegro’s 6.5% and North Macedonia’s 7%.
The IMF also estimates that Italy and Spain, the countries most affected by the pandemic, will experience a decline of 9.1 and 8% respectively, could be the worst-hit economies in Europe in 2020.
This post is also available in: Italiano