Serbia Economic Outlook
January 14, 2020Economic growth accelerated more than expected in the third quarter, as fixed investment grew at a seven-year high pace on the back of robust construction activity and an improving business climate. Public and private consumption also performed well in Q3. The economy likely extended its solid track record into the final quarter. Retail sales rose robustly in October–November, which, coupled with favorable credit conditions and rising wages, points to solid private consumption in the fourth quarter. Moreover, merchandise export growth gathered pace in the same period, while industrial production continued to recover in November after having contracted in H1. In other positive news, on 13 December, S&P Global Ratings upgraded Serbia’s credit rating to BB+ and affirmed its positive outlook, citing the country’s improving growth prospects due to solid export growth and rising FDI inflows.
Serbia Economic GrowthThe economy is positioned to grow at a fairly even clip in 2020, supported by fiscal stimulus, sustained consumer spending and a rebound in industrial output. Moreover, record-high FDI inflows will likely continue in 2020. Export growth, however, should slow due to weaker EU demand. That said, stable fundamentals should help buffer the economy from external risks. FocusEconomics panelists see GDP expanding 3.4% in 2020, which is up 0.2 percentage points from last month’s forecast, and 3.4% again in 2021.
Serbia Economy Data
5 years of Serbia economic forecasts for more than 30 economic indicators.
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|Bond Yield||3.05||0.0 %||Dec 31|
|Exchange Rate||104.9||-0.31 %||Jan 01|
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Serbia Economic News
January 13, 2020
Consumer prices increased 0.5% month-on-month in December, down from the 0.2% rise in November.
January 9, 2020
At its 9 January monetary policy meeting, the executive board of the National Bank of Serbia (NBS) kept the key policy rate at a record low of 2.25%.
December 29, 2019
Industrial production grew 1.1% year-on-year in November, up from the 0.5% increase in October.
December 12, 2019
Consumer price rose by 0.2% over the prior month in November, up from the 0.1% increase in October.
December 12, 2019
At its 12 December monetary policy meeting, the executive board of the National Bank of Serbia (NBS) decided to keep the key policy rate at a record low of 2.25%.