GDP growth in Serbia in 2015 totals 0,8% and annual inflation 1,9%

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The head of the Republic Bureau for Statistics, Miladin Kovacevic has said today that RBS estimates that GDP growth this year will total 0,8% and added that the growth was mainly result of increase in processing industry, construction and electricity, gas and steam supplying while agriculture and public services sector have been on decrease.

- Public services have been on decrease due to salary cuts since it reflects on calculation of gross added value in that sector – Kovacevic specified.

According to him, it was estimated that total industry this year compared to previous one, generated growth of 8,2%, while at the same time agriculture fell by 8%. – If it were not for the fall in agriculture, GDP increase would be higher – Kovacevic said.

He outlined value of construction works in increased by 20,5%, while turnover in retail generated growth of 1,4%, and 2,5% in wholesale.

Realistic salaries fell, he added, by 2,2%, which is according to him the result of fiscal consolidation.

According to estimation of RBS, annual inflation rate will total 1,9%.