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The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
Serbia GDP Growth (1996-2023)
Serbia’s post-Yugoslav economy saw initial growth, but the 1999 NATO intervention led to a -9.4% GDP drop. Recovery was gradual, with peak growth at 9.0% in 2004 due to structural reforms. The 2009 financial crisis led to a -2.7% contraction, with moderate recovery thereafter. The COVID-19 pandemic impacted GDP in 2020 with a -0.9% contraction, but strong recovery followed, reaching 7.7% in 2021. Growth normalized to 2.5% by 2023 amidst global economic pressures.
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