Goran Radosavljevic, a professor at the Belgrade Economy, Finance and Administration Faculty, said on Thursday that in the last decade, Serbia’s economic growth was below the regional average and that only Croatian and Albanian economies grew slower.
In an interview with the Belgrade-based independent Novi Magazin weekly, he added that „since the income in Croatia is almost 60 percent higher than in Serbia, only Albania has worse growth dynamic in the region in the last ten years.“
Radosavljevic said that the average gross GDP per capita measured by purchasing power parity in Serbia between 2013 and 2020 was about 12 percent lower than the regional average, while its growth in the same period was one of the weakest in the region.
„Between 2001 and 2012, an average income and its growth were at the regional level. While we then kept pace with the region, from 2013 to 2020, Serbia has gradually lagged behind the regional countries. In the last ten years, Romania had better economic performance, i.e. faster growth of average population income, as did Bosnia and Herzegovina, Bulgaria, Montenegro and North Macedonia,“ Radosavljevic told the weekly.
According to him, since 2012, Serbia has increased its average income compared to the average in the European Union by three percentage points, which has been the weakest result in the region after Albania.
„Romania increased its average income by 18 percentage points in the same period. The average income in Romania in 2012 was 54 percent of the EU average, and in 2020 it rose to 72 percent. Serbia is only at 43 percent of the EU average income. So, we are at the back of Europe and the region again,“ Radosavljevic concluded.
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