Serbia 2021 GDP to grow at 5 %

<p>&nbsp&semi;<&sol;p>&NewLine;<p><em>Serbia 2021 GDP&comma; Gross Domestic Product has been projected to grow at 5 percent<&sol;em><&sol;p>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that the 2021 Gross Domestic Product&comma; <strong>GDP<&sol;strong> of Serbia&comma; a landlocked country situated at the crossroads of Central and Southeast Europe in the southern Pannonian Plain&comma; is projected to contract by 1&period;5 percent in 2020 and recover in 2021 with growth at 5 percent&period;<br &sol;>&NewLine;This is the disclosure of International Monetary Fund&comma; IMF Executive Board members who have completed the Final Review Under the Policy Coordination Instrument for the Republic of Serbia&period;<br &sol;>&NewLine;This online medium gathered that<&sol;p>&NewLine;<p>Program implementation has remained on track throughout the PCI that will expire in January 2021&period;<br &sol;>&NewLine;Due to the COVID-19 pandemic&comma; Serbia’s real GDP is projected to contract by 1&period;5 percent in 2020 and recover in 2021 with growth at 5 percent&period;<br &sol;>&NewLine;The 2021 budget appropriately balances support for economic recovery with fiscal responsibility&period;<br &sol;>&NewLine;OpenLife Nigeria further gathered that the recent acceleration in infection rates in Serbia and its major trading partners could negatively impact the nascent recovery and a stronger-than-expected infection wave presents a clear downside risk to the outlook&period; The quantitative targets for end-September 2020 were met and sufficient progress was made in meeting the structural reform targets&period; Inflation remains close to the lower limit of the National Bank of Serbia’s inflation band&period;<br &sol;>&NewLine;The fiscal deficit in 2021 is planned at 3 percent of GDP&comma; and would help ensure that public debt in percent of GDP resumes a declining path&comma; while also creating enough space to support the recovery&comma; including through higher public <a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">investments<&sol;a>&period; Within this envelope&comma; <a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">increases<&sol;a> in public sector wages should be limited and pension increases are expected to follow the agreed Swiss formula&period; The unwinding of support measures could be made more gradual if further shocks materialize&period;<&sol;p>&NewLine;