Belgrade, panorama (BETAPHOTO/MILOS MISKOV)
The European Bank for Reconstruction and Development (EBRD) said on Sept. 26 that it expects Serbia’s gross domestic product to increase faster in 2024 than in 2023 and estimated that, this year, the growth rate would reach 3.8 percent owing to a strong uptick in local industrial production, real retail and tourism.
Furthermore, the EBRD foresees Serbia’s GDP growth reaching four percent in 2025, the bank said in its latest Regional Economic Prospects review.
According to the publication, the entire Western Balkans’s growth rate will advance from 2.5 percent in 2023 to 3.4 percent in 2024 and 3.7 percent in 2025 – a result of Albania’s heightened tourism, Montenegro’s sustainable consumption growth and the significant investments in Serbia.
The EBRD went on to recall that following a GDP growth rate of 2.5 percent in 2022 and 2023, Serbia’s economy leapt to 4.3 percent in the first half of 2024.
This development is due to activity in the service sector, namely trade, tourism, the hospitality industry and the construction industry.
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