The growth of the gross domestic product (GDP) of Serbia will amount to 3% in 2018 and 3.5% in 2019, the World Bank announced today.

The World Bank analysts pointed out at a press conference in Belgrade that, following the “disappointing” growth of Serbia’s GDP in 2017 of 1.9%, the medium-term economic recovery will be down to a growth of consumption, not export.

They project that Serbia’s exports will be higher by 7% this year and that the growth of consumption will be incited by the raising of salaries in the public sector and pensions, but also by an employment increase.

It was pointed out that it was not clear to what extent the growth of consumption would be reflected on the import and increase the deficit of the state’s current account.

The World Bank estimates that the economic growth in the region will amount to 3.2% in 2018 and 3.5% in 2019.