Serbia’s central bank cuts 2022 growth forecast on Ukraine crisis

(Corrects figures in first paragraph to 3.5%-4.5% from 3%-4% and to 4%-5% from 3.5%-4.5%)

BELGRADE – Serbia’s central bank on Wednesday cut its 2022 growth forecast to 3%-4% from 3.5%-4.5% due to the conflict in Ukraine.

The bank said in its Inflation Report that if the “geopolitical situation” worsened, the forecast could be cut again.

The bank said rising fuel, food and commodity prices, domestically and internationally, would result in slower-than-expected growth in manufacturing and construction “and to a smaller extent in services.”

(Reporting by Ivana Sekularac; editing by John Stonestreet)