World Bank lowers forecast for Serbian GDP growth

According to the World Bank’s June World Economic Outlook report, Serbia’s gross domestic product growth is expected to reach 3.2 percent this year and 2.7 percent in 2023. The global growth forecast for 2022 is lower by almost a third (- 2.9 percent).

Serbia’s economic growth estimate for both years has been reduced by 1.3 percent from the January forecast. The World Bank also forecasts that Serbia’s growth in 2024 will grow to 2.8 percent.

Global growth is expected to slump from 5.7 percent in 2021 to 2.9 percent in 2022— significantly lower than 4.1 percent that was anticipated in January. It is expected to hover around that pace over 2023-24, as the war in Ukraine disrupts activity, investment, and trade in the near term, pent-up demand fades, and fiscal and monetary policy accommodation is withdrawn. As a result of the damage from the pandemic and the war, the level of per capita income in developing economies this year will be nearly 5 percent below its pre-pandemic trend.

“The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, the recession will be hard to avoid,” said World Bank President David Malpass. “Markets look forward, so it is urgent to encourage production and avoid trade restrictions. Changes in fiscal, monetary, climate and debt policy are needed to counter capital misallocation and inequality.”

(, 08.06.2022)


This post is also available in: Italiano

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