BELGRADE - In spite of short-term uncertainty, stronger economic recovery is expected in 2023 and 2024, and economic growth in the Western Balkans will exceed that of Western European economies, says Intesa Sampaolo Chairman Gian Maria Gros-Pietro.

In a lecture at the Belgrade Faculty of Economics, Gros-Pietro said that, despite the current interest rate trends across the Western Balkans, he expected lending and deposits to continue to grow at a mild pace in the region and that the portfolio quality would be maintained and NPLs kept at a low level.

He also said progress of countries in the region towards EU membership would boost their credit profiles through a strengthening of institutions, competitiveness, infrastructure and FDI inflow, the Faculty of Economics said in a press release.

Gros-Pietro was a member of an official Italian delegation during a recent Serbia-Italy business and scientific forum in Belgrade, which confirms Intesa Sanpaolo Groups strong commitment to Serbia, the press release also said.