wiiw Forecast Reports

SERBIA: Walking a tightrope


Branimir Jovanović

in: Overshadowed by War and Sanctions
wiiw Forecast Report No. Spring 2022, April 2022 , pp. 112-115

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The war in Ukraine will be costly for Serbia, due to its close relations with Russia. In the short term, the country will face slower economic growth and higher prices: we are revising our GDP forecast for 2022 downwards to 3.6% (from 4.9%) and our inflation forecast upwards to 10% (from 4.5%). But the real challenges facing Serbia stem from its policy of attempting a balancing act between the EU and Russia, which will be hard to maintain in the coming years.


Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database

Countries covered: Serbia