BELGRADE – Serbia’s GDP expected to drop 3.5% in 2020

Serbia could see a 3.5% drop in its GDP in 2020, followed by an 3% increase in 2021, the European Bank for Reconstruction and Development (EBRD) said in its latest forecast on the effects of the pandemic on the region, a statement published on Thursday (1 October) wrote.

The report said that the effect of the coronavirus on Serbia was less serious than in comparable states, partly due to the large contribution of the production of basic products in overall production.

The EBRD recalled that a five percent jump in Serbia’s GDP in the first quarter was strong. The bank also said that this was driven by consumption, state consumption and investments.

Meanwhile, rising exports compared with last year slowed to 3.1%, which is the slowest quarterly rate since 2014. (

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