Serbia among 15 fastest-growing economies in Europe

The International Monetary Fund (IMF) presented its latest report on the expected economic growth of the global economy, as well as the economies of the member countries of that organization, at its regular spring session.

For Serbia, the IMF projects GDP growth of 3.5 percent this year and 4.5 percent in 2025, which puts it among 15 fastest-growing and developing markets in Europe.

The IMF expects that in 2024, these 15 countries will record a total GDP growth of 3.1 percent and that following year it will slow down to 2.8 percent.

Namely, the projection indicates a potential slowdown in growth in Russia from 3.2 percent in 2024 to 1.8 percent in 2025 due to the weakening of the effects of high investments and strong private consumption, supported by wage growth in the labour market – the IMF’s report World Economic Outlook reads.

Turkey is expected to record a 3.1 percent growth in 2024 and 3.2 percent in 2025, with an expected strengthening of economic activities in the second half of this year, if monetary “belt-tightening” ends and recovery begins.

Serbia, with a projected 3.5 percent economic growth in 2024, is behind Kosovo and Montenegro in this group of economies according to the IMF’s methodology, but also ahead of Bulgaria, Hungary, Romania and Poland.

It is interesting to note that the IMF does not expect the slowest growth in war-torn Ukraine (for which it projects 3.2 percent in 2024), but in Belarus, which this year, according to the IMF’s calculation, expects growth of 2.4 percent, which is again only slightly slower than the 2.5 percent projected for Bosnia and Herzegovina.

As for inflation, the IMF forecasts that global inflation will slow down from 6.8 percent in 2023 to 5.9 percent in 2024 and 4.5 percent in 2025.

(Biznis.rs, 17.04.2024)

https://biznis.rs/vesti/srbija/srbija-medju-15-evropskih-ekonomija-kome-mmf-prognozira-najbrzi-rast/

This post is also available in: Italiano

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