Vucic to World Bank: Serbia’s GDP growth may reach six ptc


Serbia's President Aleksandar Vucic told Linda Van Gelder, Country Director for the Western Balkans Region of the World Bank (WB), on Monday his country was ready for further cooperation in new projects in railroad, market competition, improvement of the economic environment and encouraging human capital.

„Serbia is increasingly competitive due to a responsible approach to the budget and investors and relevant infrastructural projects crucially important for new investments,“ Vucic was quoted as saying by his office’s statement.

The statement quoted Van Gelder as saying Serbia’s financial consolidation measures created a healthy basis for further acceleration of the economic growth.

Speaking about the GDP growth, she said Serbia exceeded the WB best estimates, and she expected speedy recovery of the country’s economy from the pandemic effects.

WB estimated Serbia’s GDP growth by five percent in 2021, 1.9 percent higher than expected in January.

Vucic said his country was ready to reach GDP growth by six percent since the first-quarter results were better than planned and due to big projects expected to be finished this year.

Regarding the modernization of the railroad in Serbia, co-financed by WB and French Developing Agency with 102 million Euro.

The first phase should start this and end in 2026, including renewing the existing railroad infrastructure and technical aid to crucial institutions in that sector.