World Bank revises projection of growth of Serbian economy in 2018 up, global projection revised down

The World Bank has revised the projection of Serbia’s economic growth in 2018 up by 0.5% to 3.5% compared to the projection made in June, whereas the projection of the global growth has been revised down by 0.1% to 3.0%.

The international creditor has kept the projection of the growth of the Serbian economy at 3.5% for 2019 and at 4.0% for 2020 and 2021 each in the latest Global Economic Prospects report, published today on the World Bank’s website.

At the same time, the report revises the projections of the growth of the global economy down by 0.1% for 2019 and 2020 each to 2.9% and 2.85% respectively.

Analyzing the economic trends by regions, the World Bank says that moderate inflation and low interest rates have supported a pickup in growth in some countries, citing Hungary, Poland and Serbia as examples.

The World Bank also notes that, in the Western Balkans, Albania, FYR Macedonia, and Serbia have lowered policy rates amid stable and below-target inflation.

The bank has kept the projection for Bosnia and Herzegovina for 2018 and 2019 at 3.2% and 3.4% respectively, whereas the projection for 2020 has been revised down by 0.1% to 3.9%.

The projection for Croatia for 2018 and 2019 has been revised up by 0.1% each to 2.7% and 2.8% respectively, while the projection for 2020 has been kept at 2.8%.

The bank has revised up the projection for Macedonia for all three observed years by 0.2% each to 2.5%, 2.9% and 3.2%.

The projected growth in Montenegro has been revised up by 1.0% to 3.8% in 2018, by 0.3% to 2.8% in 2019 and by 0.4% to 2.5% in 2020.

The World Bank says that moderating activity and heightened risks are clouding global economic prospects and cites the softening of international trade and investment, as well as trade tensions, as the reasons.

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