Serbia Economic Outlook
June 7, 2022
The pace of economic growth moderated notably in the first quarter, and the breakdown of components calls for caution regarding future growth. Fixed investment growth moderated sharply in Q1 and, while inventory build-up stimulated growth significantly, it is likely that destocking in the later stages of the year will weigh on economic activity. On the other hand, household spending growth remained upbeat, seemingly undeterred by rising price pressures. Turning to the second quarter, inflation rose further in April and is unlikely to have peaked; producer price inflation also intensified in April. More positively, merchandise exports expanded robustly in the same month. Meanwhile, political pressure on Serbia is building. While most of Europe is turning away from Russian oil and gas, the government signed a new three-year gas supply deal with Russia in late May.Serbia Economic Growth
Economic growth will cool sharply this year, but remain healthy nonetheless. Sanctions placed upon Russia will hurt tourism and trade, denting goods and services exports. Meanwhile, higher commodity prices will stoke inflationary forces and eat into consumers’ pockets. However, solid wage growth and a tighter labor market should provide some support. FocusEconomics panelists see GDP expanding 3.5% in 2022, which is down 0.2 percentage points from last month’s forecast, and 3.8% in 2023.Serbia Economy Data
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Serbia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.05 | 0.0 % | Dec 31 |
| Exchange Rate | 104.9 | -0.31 % | Jan 01 |
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Serbia Economic News
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Serbia: Central Bank delivers unexpected hike in June
June 9, 2022
The National Bank of Serbia (NBS) delivered a 50 basis point rate hike at its 9 June meeting, bringing the key policy rate to 2.50%.
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Serbia: Industrial output softens markedly in April
May 31, 2022
Industrial production growth cooled markedly to 2.0% year on year in April, down from 7.7% in March.
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Serbia: GDP growth records slowest increase in one year in the first quarter
May 31, 2022
GDP growth waned to 4.4% year on year in the first quarter, from 7.0% in the fourth quarter of last year.
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Serbia: Inflation comes in at highest level since April 2013 in May
May 13, 2022
Consumer prices rose 1.20% from the previous month in May, coming in below the 1.50% increase recorded in April.
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Serbia: Industrial output declines in rebounds in March
April 29, 2022
Industrial output jumped 7.7% year on year in March, swinging from February’s 0.7% contraction.
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