The World Bank forecasts that, in 2018, global economy will grow by 3.1%, which would be the highest growth in the last seven years and 0.3% higher than the Bank’s forecast from June last year. In terms of Serbia, the WB projects that this year’s growth will be 3%.
Serbia’s GDP is expected to grow by 3.5% in 2019 and 4.0% in 2020, the World Bank said in its January 2018 Global Economic Prospects report.
“In Serbia, for example, foreign-owned firms initiated greater plant modernization and automation than domestically-owned firms, raising labour productivity”, the Bank says in its report.
“Slow rise in labour productivity in Serbia contributes to high unemployment and weak economic activity. The lack of wage increase has generated disincentives for potential low-wage and part-time earners to shift from inactivity or from formal to sector jobs”, the World Bank outlines in its report ‘The Western Balkans: Revving Up the Engines of Growth and Prosperity’.
Serbia’s economy expanded by 2.0% last year, according to the World Bank estimate in the January 2018 Global Economic Prospects report. In June, the World Bank estimated 3.0% economic growth in 2017.
(Nova Ekonomija, SeeNews, 10.01.2018)
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