IMF downgrades Serbia's GDP growth forecast

IMF downgrades Serbia's GDP growth forecast

According to the latest forecasts, consumer prices in Serbia would increase by 2.3 percent this year, and by 3.4 percent next year, while the unemployment rate would rise to 21.6 percent in 2014 when compared to the last year's 21 percent, and increase to 21.8 percent in 2015.

When it comes to the current account balance, Serbia should register a deficit of 6.1 percent this year and 5.1 percent next year.

According to the October report published on the IMF website, the countries of South-East Europe would this year have a slower growth because of the devastating floods that hit Bosnia-Herzegovina and Serbia in May, while next year the countries of the region would restore the previous growth rate, thanks to flood recovery efforts and higher employment rates.