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The Government of the Republic of Serbia

In the service of citizens

Serbia expected to end year with GDP growth of 3.5 percent

Belgrade, 23 September 2022

Prime Minister Ana Brnabic chaired today a session of the Council for the Coordination of Activities and Measures for the Growth of the Gross Domestic Product (GDP), where the results achieved in various industries in the first three quarters of 2022 that affect the GDP were analysed, as well as the current situation in the energy sector and the steps to be taken in order to stimulate GDP growth by the end of the year.

According to projections, the current year should end with a GDP growth of 3.5 percent, and the labour market shows no signs of recession for now.

When it comes to foreign trade exchange, despite the difficult economic situation in the world and the environment, it is quite satisfactory compared to 2021.

The situation in the energy sector was specifically discussed at the session and the current situation in the world and Europe was analysed, as well as the measures that must be taken in Serbia in order to achieve significant savings and mitigate the negative consequences.

It was concluded that it is necessary to first implement short-term measures and stimulate citizens to save electricity, then to form working groups in all sectors of the Serbian Chamber of Commerce (SCC) which would prepare proposals for savings in the shortest time possible, as well as consider ways to reach a solution to reduce losses on the electrical grid.

The participants in the meeting placed special emphasis on agricultural production and food production.

They established that the sunflower crop is exceptional, and that the corn harvest is currently difficult due to weather conditions.