IMF Projects Better Outlook for Serbia – Economy to Drop by 2.5%, not 3%

The International Monetary Fund (IMF) estimates in its updated October report that the drop of the economy of Serbia in 2020 as a consequence of the coronavirus crisis will be lower than projected in April and that it will be at 2.5%, not 3%.

The IMF also projects that, next year, the Serbian economy will grow by 5.5%.

In the updated projections, the IMF confirms that Serbia will have the lowest drop of the GDP in the region, at only 2.5%. The recession prognosis is 12% for Montenegro, 9% for Croatia, 7.5% for Albania, the same for the Kosovo economy, 6.7% for Slovenia, 6.5% for Bosnia and Herzegovina and 5.4% for North Macedonia.

According to the report, the inflation in Serbia will amount to 1.5%, after which it will grow slightly to 1.9% next year.

The current account balance of Serbia for 2020 is projected by the IMF at -6.4%, and for the next year, at -6.5%.

The Fund has kept the unemployment rate prognosis in the country at 13.4% for this year and 13% for 2021.

Međunarodni monetarni fond-MMF Beograd

IMF

drop of economy of Serbia

GDP drop prognosis

coronavirus

inflation

current account balance

unemployment rate