Vucic: Serbia has more than doubled its GDP since 2012-2013

DAVOS - Since 2012-2013, Serbia has succeeded in more than doubling its total GDP from 32 bln euros to almost 69 bln euros, Serbian President Aleksandar Vucic said at a World Economic Forum (WEF) discussion panel in Davos on Thursday.

Vucic noted that the IMF had projected Serbia's GDP to grow 3.5 pct in 2024 but that he believed the growth rate would reach 3.6 pct.

"Since 2012-2013, we have more than doubled our total GDP from 32 bln to almost 69 bln. Yes, countries in the Western Balkans, in southeastern Europe, have a higher growth rate than the EU. As you know, the flash estimate of growth for EU member states is 0.6 pct this year, and the most recent World Bank estimate for next year is 0.9 pct," Vucic said, adding that projections for the EU were declining while forecasts for Serbia and the region were growing slightly.

"That means our economy is consistent - say, when it comes to FDI, 60-64 pct of the total FDI comes from Europe, but more than 32-33 pct comes from Asia," Vucic said, noting that the balance of global economic power was increasingly shifting to Asia.