Keepin touch

Whether you have a question, comment, suggestion or any problem falling within the competence of the Government, send us your message and we will try to respond as soon as possible. If your problem does not fall within our competence, we will forward your message to the competent institution.

The Government of the Republic of Serbia

In the service of citizens

Economic results in 2020 better than expected

Belgrade, 1 October 2020

Prime Minister Ana Brnabic chaired today a session of the Council for Coordination of Activities and Measures for Gross Domestic Product (GDP) Growth, at which the most important economic results were analysed, as well as progress on the most important projects for the Serbian economy.

In August, the results were better than expected despite the coronavirus pandemic.

Serbia recorded a significant industrial growth of 4.2 percent, while the results in the agricultural sector are better than expected, which means that this year will probably be a record in agricultural production.

The labour market continued to grow steadily, so that the number of employees in August was higher by 1.8 percent compared to August last year.

Also, although the decline in the number of foreign tourists who visited Serbia was expected, there was an increase in the tourism sector in the number of domestic tourists by more than 25 percent.

Due to these results, both the Ministry of Finance and the National Bank of Serbia revised their estimates of GDP growth for the whole year to -1 percent.

The Serbian government, together with the President of the Republic of Serbia, continues to implement all projects that, despite the pandemic, have not been interrupted.

Given the positive trend and the rapid recovery of the economy, the goal is that Serbia, with the efficient continuation of planned projects, does not have a fall in GDP this year, which would be a historic result and probably the best economic result in Europe.

The goal is for Serbia to be among the leading countries and economies in Europe in terms of economic growth in 2020, and we are on the right path, Prime Minister Brnabic pointed out.

The Prime Minister added that the news that we had achieved success in the previous three quarters of this year will have significant positive effects on our economy, and that they are another proof that we are going in the right direction, and that reforms and the government's vision have yielded results.