Radosavljevic: “Only Albania has a growth dynamic worse than Serbia”
Goran Radosavljevic, professor at the Faculty of Economics, Finance and Administration in Belgrade, said on Thursday that over the past decade, Serbia’s economic growth has been below the regional average and only Croatian economies and Albanian grew slower.
In an interview with the Belgrade-based independent weekly Novi Magazin, he added that “since incomes in Croatia are almost 60% higher than in Serbia, only Albania has experienced worse growth dynamics in the region. over the past ten years. “
Radosavljevic said that the average gross GDP per capita measured by purchasing power parity in Serbia between 2013 and 2020 was about 12% lower than the regional average, while its growth during the same period was the one of the weakest in the region.
“Between 2001 and 2012, an average income and its growth were at the regional level. As we then kept pace with the region, from 2013 to 2020, Serbia gradually fell behind the countries in the region. Over the past ten years, Romania has had better economic performance, i.e. faster growth in the average income of the population, just like Bosnia and Herzegovina, Bulgaria, Montenegro and Macedonia of the North, ”Radosavljevic told the weekly.
According to him, since 2012, Serbia has increased its average income compared to the European Union average by three percentage points, which is the lowest result in the region after Albania.
“Romania has increased its average income by 18 percentage points over the same period. The average income in Romania in 2012 was 54 percent of the EU average, and in 2020 it increased to 72 percent. Serbia is only 43 percent of the average EU income. We are therefore once again at the rear of Europe and the region, ”Radosavljevic concluded.
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