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Economic report

The Western Balkans region is expected to enter a recession in 2020, due to impacts of the COVID-19 (Coronavirus) pandemic.

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Economic Report

Serbian economy needs to grow faster than the current growth rate of 3-4% annually for the country to catch up with peers in EU.

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Growth projections in the Western Balkans region for 2018 have been revised upward and are now estimated to reach 3.5%. Growth was stimulated by higher public investment and consumption, while countries with higher growth rates boosted them mostly by investment and exports. Over 90,000 jobs were created in the first half of 2018, with new employment mostly in industry and services.

 

Kosovo and Albania are expected to grow at 4% this year. At 3.8%, Montenegro’s growth is projected to be 1 percentage point higher, although still lower than last year. Growth in Bosnia and Herzegovina continues to be stable at an estimated 3.2%. Serbia’s economy has rebounded to 3.5% growth after last year’s weather-related slowdown. North Macedonia’s growth also rebounded to 2.5%, as investor confidence was Restored.

Experts

Stephen Ndegwa

Country Manager for Serbia, Europe and Central Asia Region

Lazar Šestović

秋霞电影网在线观看伦Senior Country Economist, Serbia

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Country Office Contacts

Belgrade, Serbia
Bulevar Kralja Aleksandra 86
11000 Belgrade, Serbia
+381 11 30 23 700
vkostic@whshanshuicheng.com