Serbia’s GDP down 1.3% y/y in 3Q20, flash estimate shows

Serbia’s GDP down 1.3% y/y in 3Q20, flash estimate shows
/ Dragan Maksimovic
By bne IntelliNews November 3, 2020

Serbia's economy contracted by 1.3% year on year in the third quarter of 2020, the Serbian Statistical Office announced in a flash estimate released on November 3.

Serbia’s economy was seriously affected by the coronavirus (COVID-19) pandemic as the country imposed extremely tough restrictions to contain the spread of the disease for most of the second quarter.

In the second quarter, GDP contracted 6.5%, following a 5% growth in the previous quarter.

Despite the strong Q1 performance, Serbia is expected to go into recession this year due to the coronavirus pandemic, with the economy seen falling by up to 3.5%.

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