Experts put next year's GDP growth "between 1.5 and 1.8%"

Serbia's economic growth in 2013 will be between 1.5 and 1.8 percent, and it is unlikely that it will reach two percent as it was officially predicted.

Izvor: Tanjug

Thursday, 06.12.2012.

21:12

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BELGRADE Serbia's economic growth in 2013 will be between 1.5 and 1.8 percent, and it is unlikely that it will reach two percent as it was officially predicted. This is the conclusion of experts of the Institute of Economic Sciences and Belgrade Banking Academy (BBA). Experts put next year's GDP growth "between 1.5 and 1.8%" BBA Dean Hasan Hanic underlined at the presentation of the publication entitled "Macroeconomic Analyses and Prognoses (MAP)" that this year's GDP will go down by two percent, which is the weakest result since 2009. Observing the period of crisis since 2008 as a whole, this year was the worst for Serbia concerning all key macroeconomic indicators, he said. Hanic said that the unemployment rate nearly doubled from 14 percent in 2008 to around 26 percent in 2012, adding that the number of employees will not increase during the next year as well bearing in mind the prognoses that Serbia will have a very low economic growth in 2013. This year, Serbia will record the highest inflation rate, which according to MAP, will certainly be two-digit, but probably not bigger than 12 percent, and its movement has been influenced by an increase in food prices, growth in export prices and weakening of the dinar. Hanic said that he believes that the public debt at the end of the year will stand at 60 percent of GDP, while the external debt will reach around 80 percent of GDP. It is crucial for the Serbian economy to facilitate reimbursement of loans for the economy, incite and increase export, and in the process use certain measures to weaken the dinar and approach it to level which would be appropriate for the exporters. Tanjug

Experts put next year's GDP growth "between 1.5 and 1.8%"

BBA Dean Hasan Hanić underlined at the presentation of the publication entitled "Macroeconomic Analyses and Prognoses (MAP)" that this year's GDP will go down by two percent, which is the weakest result since 2009.

Observing the period of crisis since 2008 as a whole, this year was the worst for Serbia concerning all key macroeconomic indicators, he said.

Hanić said that the unemployment rate nearly doubled from 14 percent in 2008 to around 26 percent in 2012, adding that the number of employees will not increase during the next year as well bearing in mind the prognoses that Serbia will have a very low economic growth in 2013.

This year, Serbia will record the highest inflation rate, which according to MAP, will certainly be two-digit, but probably not bigger than 12 percent, and its movement has been influenced by an increase in food prices, growth in export prices and weakening of the dinar.

Hanić said that he believes that the public debt at the end of the year will stand at 60 percent of GDP, while the external debt will reach around 80 percent of GDP.

It is crucial for the Serbian economy to facilitate reimbursement of loans for the economy, incite and increase export, and in the process use certain measures to weaken the dinar and approach it to level which would be appropriate for the exporters.

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