World Bank lowers Serbia’s 2023 GDP growth forecast to 2.3%

Serbia’s economy is expected to expand by 2.3% in 2023, the World Bank said, lowering its previous projection for 2.7% economic growth.

For 2024, economic growth in Serbia is seen at 3%, an increase of 0.2 percentage points on the lender’s June forecast, the World Bank said in its January Global Economic Prospects report published on Tuesday.

The latest World Bank GDP growth forecast for 2023 is slightly lower than that of Serbia’s government, which last month predicted an economic expansion of 2.5%.

The economic growth of the Western Balkans region is forecast at 2.5% in 2023, down from an estimated 3.1% in 2022.

In the Western Balkans region, growth is projected to slow to a modest 2.5% in 2023, as EU accession reforms and investment mitigate the negative effects of high energy and food prices, disruptions to trade and investment flows, and spillovers from the slowdown in euro area growth, the World Bank said.

Source: SeeNews, Momentum