EBRD: Serbia's GDP to grow 1.3 percent in 2014

Serbia's gross domestic product (GDP) will grow 1.3 percent in 2014, which is the lowest projected growth rate in southeast Europe for this year, the European Bank for Reconstruction and Development (EBRD) said in its Regional Economic Prospects report.
The projected GDP growth rate for Serbia in this report is 0.4 percent lower than in the EBRD's October report.

Exports will continue to be the main growth driver in 2014. Meanwhile, consumption will remain subdued, in large part due to continued tightness in domestic credit markets and the necessary fiscal retrenchment expected over the coming year. As a result growth this year at 1.3 per cent will be somewhat weaker than in 2013, the EBRD said in the report.

According to the EBRD, Serbia's GDP grew 2.2 percent in 2013.

Recovery in SEE will continue but growth rates will remain modest overall, at just 2.1 per cent after 2.0 percent in 2013.
Several countries in the region face big fiscal challenges, as the combination of weak growth and the failure to rein in public expenditure has led to rising fiscal deficits and public debt levels, the report reads.

A recovery this year in the regions where the EBRD invests is expected to be slow, despite improvements in the world’s most advanced economies, including in the United States and the Eurozone. The whole report is available at the following link: www.ebrd.com/downloads/research/REP/rep-1401.pdf

EBRD Evropska banka za obnovu i razvoj Beograd

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