Mali: EC's 2024 growth projection for Serbia revised upwards to 3.5 pct

BELGRADE - In its Spring 2024 economic forecast for EU member states and membership candidates, released on Wednesday, the European Commission has revised upwards its growth projection for Serbia to 3.5 pct for this year and 4.3 pct for 2025.

In a year marked by all economic conferences as a "year of economic slowdown," good news is coming in for Serbia, Finance Minister Sinisa Mali said.

"This is going to be the highest growth in the region and the second-highest of all observed EU countries, right behind Malta, for which the growth projection this year is 4.6 pct. I am optimistic and I am certain that, despite all challenges, we will succeed in exceeding even the new 3.5 pct projection as we achieved 4.6 pct growth in Q1," Mali said.

In its May forecast, the European Bank for Reconstruction and Development (EBRD) also said on Wednesday the Serbian economy would grow 3.5 pct in 2024 and accelerate to 4 pct growth in 2025.

"All that gives me arguments to believe that, as early as before the end of the year, Serbia can demonstrate the results of efforts it has invested in the past years to revive the Serbian economy, reform its society, stabilise its finances and, finally and with determination, head towards continued development. Growth will remain a priority in the coming years, too," Mali noted.