Serbia’s GDP to grow by at least 6% in 2021
BELGRADE (Serbia), May 21 (SeeNews) – The Serbian central bank, NBS, expects the country’s gross domestic product to increase by at least 6% in 2021, supported by the recovery in external demand, has Governor Jorgovanka Tabakovic said.
“The continued favorable financing conditions, productive capacities and jobs, including new advances in immunization, are expected to support the GDP growth rate to 6% and above and ensure a return to dynamic growth rates in the years to come, ”Tabakovic said. in remarks to the presentation of the NBS May 2021 inflation report published Thursday on the bank’s website.
Continued investment will lead to a further increase in the share of exports of goods and services in GDP, which is expected to rise from 48% last year to more than 56% by 2023, Tabakovic said.
“The share of NPLs in total loans is still lower than the pre-crisis level. It measured 3.9% in March. For example, a year after the effects of the global financial crisis materialized in our country , the ratio of NPL climbed above 17%, reflecting the economic contraction and the weakening of the dinar against the euro ”, added Tabakovic.
Last month, the International Monetary Fund (IMF) said the Serbian economy would grow 5.0% this year, revising its forecast to a 5.5% increase in GDP. The IMF expects Serbia’s GDP to grow 4.5% in 2022, the IMF said in its latest World Economic Outlook report.