World Bank revises projection of growth of Serbia's GDP in 2017 down to 2.3%

In its latest report for Europe and Central Asia, the World Bank revised the projection of the 2017 growth of Serbia's GDP from 3% down to 2.3%.

The report points out that, thanks to a fiscal consolidation, there is currently a surplus in the budget, but warns that the economic growth in 2017 will be lower than initially inspected due to the harsh winter, the summer drought and lowered investments.

As for 2018, the international institution expects a growth of 3% as opposed to the initially expected 3.5%, whereas a growth of 3.5% is projected for 2019, Wisebroker reports.

Svetska Banka-WB Beograd

Vlada Republike Srbije

GDP growth

GDP

gross domestic product

fiscal consolidation

budget of Serbia