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The economy slid into recession in 2014. It is expected at best to stagnate over the current year. This is mostly due to the fiscal consolidation measures being planned, as well as to stagnating exports. In the medium term, the government expects recovery that will be driven for the most part by public and foreign investments. It also anticipates support from a three-year IMF programme that was approved at the end of February. Recovery should pick up speed, increasing to about 2% by 2017.
|Main Economic Indicators||2012||2013||2014||2015||2016||2017|
|Population, 1000 persons.||7199||7164||7070||.||.||.|
|GDP, real change in %||-1.0||2.6||-2.0||-0.5||1.0||1.4|
|GDP per capita (EUR at PPP)||9700||9900||9900||.||.||.|
|Gross industrial production, real change in %||-2.2||5.3||-6.5||.||.||.|
|Unemployment rate - LFS, in %, average||23.9||22.1||17.6||17.0||17.0||17.0|
|Average gross monthly wages, EUR||508||537||524||.||.||.|
|Consumer prices, % p.a.||7.8||7.8||2.9||3.0||3.0||3.0|
|Fiscal balance in % of GDP||-6.8||-5.5||-6.6||.||.||.|
|Public debt in % of GDP||56.2||59.6||70.6||.||.||.|
|Current account in % of GDP||-11.5||-6.1||-5.9||-6.0||-6.0||-6.0|
|FDI inflow, EUR mn||926||1485||1550||.||.||.|
|Gross external debt in % of GDP||81.2||75.4||81.2||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
SERBIA: Fiscal consolidation starts
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 95-97 Details and Buy
Monthly Report No. 7-8/2014
Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Michael Landesmann, Sebastian Leitner, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July 2014
23 pages including 1 Table and 2 Figures Details