NBS Revises GDP Growth Projections – Expectations 0.5 Percentage Points Lower Than Those in February

The National Bank of Serbia (NBS) has revised the projection of the growth of the gross domestic product (GDP) for this year due to the negative effects of the conflict in Ukraine, so it will range between 3.5% and 4.5%, which is 0.5 percentage points lower than projected in February.

– According to our new projection, the GDP growth this year will range between 3.5% and 4.5%, which is 0.5 percentage points lower than our expectations in February – Tabakovic said at the presentation of the Inflation Report for May.

She added that other relevant international institutions, such as the International Monetary Fund, the European Bank for Reconstruction and Development (EBRD) and Consensus Forecast.

– It is important to note that the downward adjustment of the economic growth for Serbia is almost the smallest among the countries of the region – Tabakovic said.

Narodna banka Srbije Beograd

EBRD Evropska banka za obnovu i razvoj Beograd

Međunarodni monetarni fond-MMF Beograd

National Bank of Serbia

NBS

International Monetary Fund

IMF

European Bank for Reconstruction and Development

EBRD

Consensus Forecast

Jorgovanka Tabakovic

Inflation Report for May

negative effects of the conflict in Ukraine

revising the projection of GDP growth