Page 47 - bne IntelliNews SE Outlook Regions 2024

In annual terms, factory-gate inflation remained negative (-2.2% y/y) in October for the fourth month in a row, but this doesn’t much help the energy-intensive industries that still can’t afford to resume operations at full capacity due to the high cost of energy in absolute terms.
2.10 Macroeconomy - Serbia
Serbia key economic figures and forecasts
2016 2017 2018 2019 2020 2021 2022
Nominal GDP (EUR bn) 40.7 44.2 50.6 51.5 53.3 59.0 60.3
Real GDP (% y/y) 3.3 2.1 4.5 4.3 -0.9 6.8 2.5
Unemployment rate (avg, %) 15.3 13.5 12.7 10.4 9.0 9.9 9.5
Consumer prices (avg, % y/y) 1.1 3.1 2.0 1.8 1.5 4.1 12.0
General budget balance (% of GDP) -1.1 1.4 0.8 0 -7.3 -6.5 -2.4
Current account balance (% of GDP) -1.1 2.0 -2.0 -3.1 -1.9 -4.3 -6.8
Official FX reserves (EUR bn) 10.2 10.0 11.3 13.4 13.5 16.5 18.9
Gross foreign debt (% of GDP) 72.0 65.1 62.2 61.4 65.8 68.5
EUR/LC (avg) 123.1 121.4 118.3 117.9 117.6 117.6 117.4
USD/LC (avg) 111.3 107.5 100.3 105.3 103.0 99.5 111.5
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