The Serbian economy will expand by 3.6% this year and 1.9% the following year, predicts WIIW

October 26, 2022

Although the war in Ukraine did not have the expected detrimental effects on the economies of 23 countries in Central, Eastern, and South-Eastern Europe, the Vienna International Economic Institute (WIIW) published its autumn forecast with the assessment that tough times still lay ahead.

In terms of Serbia, the Institute projects that the nation will increase by 3.6 percent this year.

The Serbian economy will expand by 3.6 percent this year, 1.9 percent the following year, and 2.7 percent in 2024, predicts WIIW.

In contrast, it is predicted that Bosnia and Herzegovina’s economy would increase by 2.6% this year, 1.5% the following year, and 2.5% in 2024, while North Macedonia’s economy will expand by a much lower 1% this year, 0.65% the following year, and 2% in 2024.

This year, the Western Balkans as a whole will have economic growth of 3.1%. The region’s GDP is expected to rise by 1.9 percent in 2019 and by 2.8 percent in 2024.

According to estimates, the EU’s economy will increase by 3.9 percent this year, 1.5 percent the next year, and 2.6 percent in 2024.

According to predictions made by the Vienna Economic Institute, Serbia’s unemployment rate will be 9.5 percent this year, 9 percent the next year, and 8.5 percent in 2024.

All other Western Balkan nations have double-digit unemployment rates.

Source: Serbianmonitor.com
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