WASHINGTON – The World Bank kept the forecasts of Serbia’s economic growth at 4.5 percent for 2022 and at 4.0 percent for next year, as it predicted in October last year.
In the January Report on the World Economic Outlook, published today, this international financial institution also remained in the autumn estimate of the growth of the gross domestic product of Serbia in 2021 of 6.0 percent.
Unlike the October report, the new World Bank forecasts do not include individual chapters on economic conditions by country.
The international lender predicts moderate growth in the Western Balkans of 4.1 per cent this year and 3.8 per cent in 2023.
He also believes that the economic recovery in the region will lose momentum as the effects of external incentives weaken and because of the undermining of trust due to growing political uncertainties, especially, as he states, in Bosnia and Herzegovina.
He added that the region is expected to benefit from the recently adopted EU Economic and Investment Plan for the Western Balkans, which will mobilize funds to support competitiveness, inclusive growth, as well as green and digital transition.
When it comes to the global economy, the report states that after a strong recovery in 2021, the world economy is entering a marked slowdown due to threats from new strains of covid-19 virus, rising inflation, debt and income inequality that could jeopardize recovery emerging economy and developing countries, reports Tanjug.
According to World Bank forecasts, global growth will slow from last year’s 5.5 percent to 4.1 percent in 2022 and to 3.2 percent in 2023, as accumulated demand, which was hampered by the pandemic, will dissipate, and because fiscal and monetary support measures will be abolished worldwide.