The European Bank for Reconstruction and Development (EBRD) said it expects Serbia’s economic output to increase by 2.0% in 2023, lowering its September forecast by 1.3 percentage points.

In 2024, Serbia’s gross domestic product (GDP) is expected to grow by 3.5%, the EBRD said in an update to its Regional Economic Prospects report on Thursday.

Serbia’s economic output grew by a real 0.4% in the fourth quarter of 2022 compared to the previous year, the country’s statistical office said in a flash estimate in January.

The economic output of the EBRD’s region of Western Balkans is expected to decrease to 2.2% in 2023 from an estimated growth rate of 3.0% in 2022, before expanding 3.4% in 2024.

Source: SeeNews, Momentum