Balancing Growth and Risks: Serbia’s Economic Outlook for 2025
Mihailo Vesović, a key figure at the Chamber of Commerce and Industry of Serbia, opened the World in 2025 conference, organised by Color Media Events, with an insightful reflection on the economic landscape of 2024 and expectations for 2025. His remarks set the tone for a day of discussions, focusing on the challenges and opportunities that lie ahead.
“I believe it’s important to begin this gathering with a review of how 2024 unfolded and what we can anticipate economically in 2025. While this past year has been extraordinarily complex and marked by significant uncertainties, particularly in economic terms, I would not harbour excessively pessimistic predictions,” Vesović stated.
Reflecting on the positives of 2024, he highlighted Serbia’s stable growth trajectory despite the global challenges. “What stands out as a success is the stable growth we achieved. One of the main hurdles for Serbia, however, was inflation. Fortunately, it is gradually returning to acceptable levels, and we expect it to settle between 1.5% and 3% over the next year.”
Despite global challenges, Serbia’s stable growth trajectory in 2024 highlights its resilience, with inflation expected to return to acceptable levels between 1.5% and 3% in the coming year
Key Achievements of 2024
Vesović highlighted several significant milestones for Serbia in 2024. Last year saw a credit rating upgrade, which is crucial for attracting investors. Investments reached 4.5 billion euros, and it is expected that the upcoming year will achieve at least the same amount, if not more. Serbia’s GDP growth rate is projected at 3.8% for 2024, with an optimistic forecast of 4.5% for 2025. Unemployment dropped below 9% this year, with expectations for this trend to continue into 2025.
Economic Challenges and Risks
Despite these achievements, Vesović warned of significant risks that could impact the economy. He emphasized the need for caution regarding several factors. Fluctuations in energy costs pose ongoing challenges. Issues surrounding food availability and pricing remain critical. Geopolitical risks continue to escalate daily, adding layers of uncertainty to the global economic landscape.
Vesović noted that while business leaders surveyed by the Chamber maintain moderately positive expectations, these risks necessitate a careful approach. Such uncertainties naturally influence the economy and highlight the importance of preparedness and resilience, he said.
Looking Ahead
As he concluded his opening remarks, Vesović extended a warm welcome to all attendees. “Welcome to the Chamber of Commerce and Industry of Serbia. I hope that today’s discussions will help us better understand the world we live in today and the world we will live in tomorrow. Thank you,” he stated.
Vesović’s optimism, balanced with a pragmatic recognition of challenges, set an encouraging foundation for the conference’s agenda, focusing on collaborative efforts to navigate the complexities of the coming year.
