Mali: Serbian economy continues to grow, Q4 2023 GDP growth at 3.8 pct

BELGRADE - The Serbian economy continues to grow and develop, as confirmed by the latest statistical data indicating that Serbia's GDP grew by 3.8 pct in Q4 2023, compared to 2.5 pct growth during the entire last year, Serbian Finance Minister Sinisa Mali said in a statement.

Also, GDP rose by a nominal 69.5 bln euros, or 8,150.5 dinars, which is 47 bln dinars higher than anticipated, Mali wrote in an Instagram post.

If we look at 2012, when the national GDP totalled 33.7 bln euros, we can see how much progress Serbia has made, how strong our economy is today and that our public finances are fully stable, he added.

"We expect further growth and development in this year, too - GDP growth of as much as 3.5 pct, which, if we work tirelessly and diligently, will lead us to the objective of the value of everything we produce in Serbia reaching as much as 100 bln euros," he noted.

"It is important to mention that the labour market has been preserved fully and that the Q4 employment rate was 50.5 pct, with the unemployment rate at 9.1 pct. At the same time, the public debt is absolutely under control and we attracted a record-high 4.5 bln euros of FDI last year," Mali said.

It is clear that, despite the global economic crisis, Serbia continues to develop and make progress, Mali noted.

"We have come to a time of accelerated growth, and the implementation of the Leap Into The Future - Serbia EXPO 2027 programme will be additional wind in the sails of our country's economic development and ensure even better quality of life to our citizens," he added.