EBRD: GDP to go down in 2012, increase in 2013
The European Bank for Reconstruction and Development forecasts a 1.1 percent pick up in Serbia's growth in 2013, a new report has said.
Tuesday, 30.10.2012.
16:20
LONDON The European Bank for Reconstruction and Development forecasts a 1.1 percent pick up in Serbia's growth in 2013, a new report has said. The bank also noted that "that at the moment the Serbian economy is showing several weaknesses". EBRD: GDP to go down in 2012, increase in 2013 The latest quarterly report released on the EBRD website, the growth in Serbia was around two percent in 2011, but is now forecast to be negative in 2012 amounting to minus 0.7 percent. This prognosis was made especially in light of the weak output figures in the first quarter of 2012 (GDP contracted by 1.3 percent y-o-y) and only a marginally better second quarter. The EBRD report entitled Regional Economic Prospects said that Serbia's major risks remain, mainly from exposure to the eurozone, and, after declining to record lows, inflation is on the rise again and reached double-digit levels in September. Domestic policies have added to uncertainty in the run-up and since the elections, the EBRD said. The government faces a major challenge in reducing the fiscal deficit (currently around 7 percent of GDP) and bringing down public debt, which has risen close to 60 per cent of GDP, way above the legal limit of 45 per cent, the bank concluded. Tanjug
EBRD: GDP to go down in 2012, increase in 2013
The latest quarterly report released on the EBRD website, the growth in Serbia was around two percent in 2011, but is now forecast to be negative in 2012 amounting to minus 0.7 percent.This prognosis was made especially in light of the weak output figures in the first quarter of 2012 (GDP contracted by 1.3 percent y-o-y) and only a marginally better second quarter.
The EBRD report entitled Regional Economic Prospects said that Serbia's major risks remain, mainly from exposure to the eurozone, and, after declining to record lows, inflation is on the rise again and reached double-digit levels in September.
Domestic policies have added to uncertainty in the run-up and since the elections, the EBRD said.
The government faces a major challenge in reducing the fiscal deficit (currently around 7 percent of GDP) and bringing down public debt, which has risen close to 60 per cent of GDP, way above the legal limit of 45 per cent, the bank concluded.
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