World Bank forecasts economic growth of 2,7% in the Balkans in 2016 - Expectation for Serbia at level of region

This year, in Europe and Central Asia modest economic growth of 1.6% is expected and 2.7% in the Western Balkans, and in Serbia 2.5%, and the governments should take measures to encourage economy, the World Bank announced.Low price of oil and other stock exchange commodities in the eastern part of the region, decline in investments in EU, as well as current structural challenges in all countries, preventing growth in the region and contribute to the rise of populism and polarization, according to a new World Bank report.New World Bank report which was presented today in Bucharest states economic growth in the region this year is 1.6%, which is slightly more than in 2015, when it stood at 1.4%, but decline in income and consumption is likely to reduce, as stated, modest growth, adding that similar trend is expected in the next two years, with growth of 1.5% in 2017 and 1.8% in 2018.In the Western Balkans growth of 2.7% in 2016, 3.2% in 2017 and 3.5% in 2018 is expected, while in the Eastern Europe and Central Asia, growth will be 0.7% in 2016, 2, 3% in 2017 and 2.6% in 2018, while the European Union expects a small decline in GDP.

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