GDP growth is good depending on what it is compared to?

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Economists claim the growth of gross domestic product (GDP) in the first half of this year of 4.5 percent, compared to the same period last year, is consequence of a comparison with last year’s weaker growth, thus it is not the reason for “major bragging.”

Serbian Minister of Finance Sinisa Mali has said that GDP growth of 4.5 percent in the first six months “is an impressive result because it is the highest growth rate for first six months in the past 10 years.”

Economist Dragovan Milicevic has stated with Beta agency that, despite GDP growth of 4.5 percent, it will be difficult to exceed projected growth of 3 or 3.5 percent at the end of the year.

Economist Srboljub Antic has stated with Beta agency that Serbia is one of the poorest countries and “it is unjustified to boast with GDP growth of 4.5 percent, when it is known what it is compared to.”

“Even if that growth of 4.5 percent maintains itself at the end of the year, there is no reason to celebrate because citizens of this country are a flight risk,” Antic said.

 

Source: Beta

Photo: Pixabay