IMF confirms projection of Serbia's economic growth at 3% in 2017

The International Monetary Fund (IMF) confirmed the projection of the growth of Serbia's 2017 GDP at 3% today, whereas the outlook for 2018 is even better, with the GDP growth projected at 3.5%.

At the traditional spring session of the IMF and the World Bank in Washington, the institution announced the latest global projections in the World Economic Outlook document.

The last such document, published by the IMF in October 2016, projected the growth of Serbia's GDP at the rate of 2.8% in 2017. Following the Mission's technical visit to Belgrade this March, the institution revised the projection up to 3%.

The head of the IMF Mission for Serbia, James Roaf, said on the occasion that Serbia's economic program had led to good results and reminded that the growth of GDP in 2016 had reached 2.8%, along with an increase in investments, export and employment.

He pointed out that fiscal indicators were better than targeted, that the deficit had been lowered to 1.4% of the GDP, the lowest level since 2005, that the public debt had dropped to 74% of the GDP in 2016 and that the unemployment rate was dropping, as were NPLs in the banking sector.

Regarding the unemployment rate, the IMF projects that it will amount to 16% this year and that it will drop to 15.6 % in 2018.

Međunarodni monetarni fond - MMF Beograd

Svetska Banka-WB Beograd

International Monetary Fund

IMF

GDP of Serbia

economic growth of Serbia

James Roaf

World Bank

World Economic Outlook

public debt of Serbia

unemployment in Serbia

non performing loans