IMF: Serbia's GDP to grow 3.5 pct in 2019, 4 pct in 2020
The IMF has retained a 3.5 pct forecast for Serbia's GDP growth in 2019 and projects a 4 pct growth rate in 2020. In an IMF report released on Tuesday, Serbia is in a group of developing European countries that also includes Poland, Turkey, Romania, Hungary, Bulgaria and Croatia.
According to figures available on the IMF website, Serbia will have the highest economic growth of all countries in the group in 2020 while this year it is behind only Hungary and Poland.
World Bank: Serbia has good HCI ranking
In the World Bank's latest World Development Report, Serbia ranks 27th in the Human Capital Index (HCI) of 157 economies, World Bank expert Simeon Djankov recalled in Belgrade Wednesday. Serbia is right behind Belgium and Israel, he said at the presentation of the report. By comparison, Serbia is ranked above other economies in the region - Macedonia (88), Kosovo (80), Montenegro (59), Bosnia and Herzegovina (58), Albania (56), Bulgaria (44) and Croatia (36).
Serbian industrial output, exports revive in February
Serbian industrial output revived in February and favourable external trade tendencies were registered as well, according to experts with the economic magazine MAT. "February brought a turnaround in terms of revived industrial production after two or three bad months and the processing industry grew particularly, which is very good," MAT contributor Ivan Nikolic said at Tuesday's presentation of the latest issue of the magazine. Exports are back in double figures, with an export-to-import ratio of 74.1 pct, he said. Inflation was completely within the target band and the fiscal surplus in the first two months of the year was 25 mln dinars higher than planned, he said.
S&P 500 rises as ‘majority’ of Fed sees no change in rates this year, European stocks close higher as ECB holds rates
The S&P 500 rose slightly on Wednesday, as the Federal Reserve reaffirmed that it would keep rates unchanged this year. The Dow Jones industrial average pared small early gains, ending the day 9 points higher. The Dow was dragged down by a 1.1% drop in Boeing shares. The S&P 500 finished the day up 0.4% while the Nasdaq composite was ended up 0.7%.
Delta Air Lines announced Wednesday that it generated record revenue in the first quarter and that its profit and sales for the period beat Wall Street’s expectations. The stock was up 1.6%.
European stocks closed slightly higher Wednesday, after the European Central Bank left interest rates unchanged and investors looked ahead to an emergency Brexit summit. The pan-European Stoxx 600 closed provisionally up around 0.2%, with most sectors in positive territory.
Europe’s retail stocks were the top performers, up over 1% amid earnings news. Supermarket group Tesco reported a stronger-than-anticipated rise in full-year operating profit on Wednesday, putting the company firmly on track to meet the majority of its turnaround goals. Shares of Britain’s biggest retailer rose more than 3.5% on the news.