Serbia’s economy to grow at least 10% year-on-year in second quarter
BELGRADE (Serbia), June 3 (SeeNews) – The Serbian economy is expected to grow by at least 10% year-on-year in the second quarter of 2021, Finance Minister Sinisa Mali said on Thursday.
“Taking into account the growth in the first quarter, taking into account the 33.9% annual increase in industrial production in April, taking into account higher-than-expected budget revenues in May […], we forecast annual economic growth of between 10% and 11% in the second quarter, ”Mali said in a video file posted on the public broadcaster RTS’s website.
Serbia’s gross domestic product (GDP) is expected to grow by at least 6% in 2021, meaning the country will have the highest economic growth in Europe, Mali said.
Serbia’s GDP grew 1.7% year-on-year in the first quarter of 2021, after declining 1.1% in the previous quarter, the country’s statistics office said earlier this week. The first quarter of 2021 saw a significant increase in gross value added in real terms in the construction sector, by 19.5% year on year, as well as by 5.3% in the wholesale and retail trade sector. ; repair of motor vehicles and motorcycles; Transport and storage; Accommodation and catering activities.
Last month, the Serbian central bank, NBS, said it expects the country’s gross domestic product to increase by at least 6% in 2021, supported by the recovery in external demand.