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: Industrial output rebounds in November
December 29, 2022
Industrial production rose 0.4% year on year in November, contrasting October’s 0.1% contraction.
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Serbia: Inflation comes in at highest level since our records began in November
December 12, 2022
Inflation ticked up slightly to 15.1% in November from October’s 15.0%.
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Serbia: Central Bank continues its hiking cycle in December
December 8, 2022
The National Bank of Serbia (NBS) hiked the key policy rate by 50 basis points to 5.00% from 4.50% at its 8 December meeting, following its decision to hike by 50 basis points in early November.
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Serbia: Inflation rises in October to highest level since 2008
November 14, 2022
Inflation came in at 15.0% in October, up from September’s 14.0%.
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Serbia: Central Bank continues its hiking cycle in November
November 10, 2022
The National Bank of Serbia (NBS) hiked the key policy rate by 50 basis points to 4.50% from 4.00% at its 10 November meeting.
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