Recently, Geostat revised upward its real GDP growth for the third quarter of 2021 to 9.1% (by 0.1 ppt). The real GDP growth rate amounted to 12% year-on-year for November 2021. Consequently, the estimated real GDP growth for the first eleven months of 2021 was 10.7%.

The global economy continues to recover in Q3 2021 following the deep economic crisis caused by the COVID-19 pandemic. The growth accelerated as a result of the easing of virus- containment restrictions in most countries. According to the IMF forecast (October 2021), global GDP will grow 5.9% year over year (y/y), which is a downward adjustment from the previous estimate of 6% (July 2021).

Recently, Geostat released its preliminary estimate of real GDP growth for the first and second quarters of 2021. The Q1 and Q2 growth rates were revised upward to -4.1% (by 0.4 ppt) and downward to 28.9% (by 1 ppt) respectively. The real GDP growth rate amounted to 6.9% year-on-year for October 2021. Consequently, the estimated real GDP growth for the first ten months of 2021 was 10.5%.

RECONOMY is a 7-year program for the Western Balkans and Eastern Partnership that focuses on enabling women and young people, in particular, excluded and disadvantaged groups, to benefit from economic opportunities by inclusively and sustainably increasing their income and finding decent jobs. Its aims also include education & skills, policies & regulations, and business & financial services.

ISET Policy Institute is an active member of the CAREC Think Tank Network. This year, the fifth CAREC Think Tank Development Forum, held on November 23-24, gathered leaders from the CAREC Institute, Asian Development Bank, other international organizations, leading regional think tanks, experts, alongside various academics to discuss economic corridors as drivers of fiscal growth and regional integration.