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Serbia's economy to outperform IMF forecast, says minister

Christian Fernsby |
Serbia's government expects its economic growth in 2020 and 2021 to exceed the projections of the International Monetary Fund (IMF) thanks to the country's solid public finances, Finance Minister Sinisa Mali said.

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Topics: SERBIA    IMF   

"The IMF expects Serbia's economy to contract by only 3% in 2020. But we do not agree with that. We think that our decline will be much smaller," Mali said in a video file posted on the website of news agency Tanjug Wednesday.

On Tuesday, the IMF said it expects Serbia's economy to contract by 3.0% in 2020 after growing by 4.2% in 2019. In 2021, Serbia's gross domestic product (GDP) is expected to grow by 7.5%, IMF said in the April edition of its World Economic Outlook report.

"In its report, the IMF says that Serbia will have the smallest decline this year, while in 2021 we will be the fastest-growing economy in Europe, with a growth rate of 7.5%," Mali said.

All positive forecasts are the result of the economic reforms carried out in the last five years, he added.


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