Vucevic: EC projects Serbian GDP to grow 3.9 pct in 2024

BELGRADE - Serbian PM Milos Vucevic said on Friday that, in its autumn economic forecast, the European Commission had revised upwards the 2024 GDP projection for Serbia from 3.5 to 3.9 pct.

"Had we not had drought this year, the result would have probably been somewhat better, but that is something we have no direct control over," Vucevic said at the presentation of the Foreign Investors Council (FIC) White Book 2024.

He said GDP growth projections for 2025 and 2026 were 4.2 and 4.3 pct, respectively, and noted that the government was trying to maintain a pace of growth "so that we can be successful and also try to improve on this forecast and make things even better."

Speaking about projections of Serbia's debt-to-GDP ratio for 2024, 2025 and 2026, Vucevic said they meant the debt would remain below the Maastricht level as well as below 50 pct of GDP.

"That opens up possibilities for our further development without jeopardising the overall state of our country's economy and, of course, fiscal and monetary stability," Vucevic noted.