(slide 2) Already in Q3 of the previous year, Serbia’s economy managed to exceed pre-  crisis levels in many branches – in industry and retail trade in August and in commodity exports in September. As of May, industry recovered faster than we expected, posting 0.4% growth in 2020.
Serbia’s labour market has also been preserved – recording a rise in both employment and wages, so that in March this year formal employment increased by over 72 thousand people. Serbia reached the pre-crisis level of economic activity before many other world economies – already in Q1 this year, which is a quarter earlier than we expected.