Strong Economic Performance
In recent years, Serbia has been among Europe's fastest growing economies. Over the past three years GDP growth averaged 6.3%, while in 2008 it amounted to 5.4%. GDP per capita of $4,651 is coupled with rapid banking loans expansion to fuel skyrocketing local demand.
Inflation in 2008 remains steadily in single digits standing at 6.8%, while further reductions are projected for the coming years. Export of goods has been steadily rising reaching €7.4 bn in 2008, while in 2004 it was merely €2.8 bn.
In addition, foreign currency reserves in 2008 remain high at $9.122 bn and public foreign debt has been cut down to merely 25% of GDP.
