All News on Economics in Serbia

EC excludes Serbia from decision to impose duties on steel

BRUSSELS - The European Commission (EC) has excluded Serbia from a decision to impose anti-dumping measures and duties on imports of steel and steel products, which will make the Chinese-owned HBIS Group steel mill in Smederevo more competitive than other exporters.

World Bank approves 183mn for development policy

The World Bank Board of Executive Directors has approved a 182.6 million euro development policy loan to Serbia.

The loan will support the government in improving its management of public expenditure and making energy and transport public utilities more efficient and financially sustainable, Tanjug said, quoting a statement issued by the financial institution.

Bulgaria's Non-EU Exports 10.6% Down in Jan-Oct

Exports to third countries have shrunk by 10.6% between January and October compared to the same period of last year, national statistics show.

The amount exported for that time was BGN 11.973 B, with Turkey, Macedonia, Serbia, China, Russia and the US being the main non-EU partners for Bulgarian goods.

"Serbia's growth strengthening, 2.7 pct growth expected"

Serbia's growth is strengthening and labor market indicators are showing noticeable improvement, IMF Mission head James Roaf said on Tuesday.

"Ee expect real GDP growth of 2.7 pct in 2016 and 3 pct in 2017," Roaf said, according to Tanjug.

Bulgaria's Trade with Third Countries Dipped in Jan-Aug

Both exports and imports of Bulgaria to third countries fell in the first eight months of this year, compared to the same period of 2015, statistics show.

Exports amounted to BGN 9.5161 B. The main trade partners included Turkey, Macedonia, Serbia, China, Russia, and the United States, accounting for 49.7% of the exports to non-EU countries.

Sestovic: Exports have become engine of Serbia's growth

BELGRADE - Exports have become the main factor of Serbia's economic growth, with household spending playing an increasing role in it, says Lazar Sestovic, the chief World Bank economist for Serbia.

Exports have been excellent over the past seven months, he told a press conference.

Real GDP growth in first quarter reaches 3.5 pct

In the first quarter of 2016, Serbia's real GDP grew 3.5 percent y-o-y, according to a flash estimate by the Statistical Office of the Republic of Serbia (RZS).

The calculation of quarterly GDP for Q1 2016, which is more detailed and compiled at lower levels of aggregation by deflation method, will be published on May 31, 2016.

Fiscal Council: Restrictive fiscal policy should continue

Serbia's Fiscal Council believes that the government should not loosen its restrictive fiscal policy too early.

Increasing economic growth and employment calls for making more efforts to improve the investment climate, this independent state body that reports to the National Assembly said.

Economy grows 1.3 percent in fourth quarter

Serbia's real gross domestic product (GDP) grew 1.3 percent in the fourth quarter of 2015, relative to the same quarter of 2014.

This is according to a preliminary estimate of the Statistical Office.

Turkey cheaper than Europe but cars, booze, tobacco remain expensive

Turkey is more expensive than a few European countries but it remains cheaper than a majority of the continent, according to a new comparative purchasing power parity index released June 19 by the Turkish Statistics Institute (TÜ?K).

However, car prices stood above European levels, as did the prices of alcoholic beverages, tobacco and consumer electronics.

Fiscal adjustment to take between five and 10 years

Fiscal adjustment in Serbia and the Balkan countries will take between five and 10 years to complete, says economist Vladimir Gligorov.

This professor at the Vienna Institute for International Economic Studies added this was the reason these countries cannot expect high rates of economic growth, which will move in the range between two and 2.5 percent over the next ten years.

SB: USD 75 million for public sector reform

SB: USD 75 million for public sector reform

BELGRADE - Public Sector Specialist in the World Bank (WB) Srdjan Svircev stated on Saturday that the bank would back public sector reform in Serbia through expert assistance and a USD 75 million loan which should be granted by the end of the year.

WB grants EUR 88 million loan to Serbia

WASHINGTON - The World Bank (WB) Board of Directors granted Serbia on Wednesday a loan worth EUR 88.3 million (around USD 100 million) as support to structural reforms, WB released on Wednesday.

Key policy rate reduced to 7.5 percent

BELGRADE - The Executive Board of the National Bank of Serbia (NBS) has decided to reduce the key policy rate by 0.5 percent, and the key policy rate shall thus total 7.5 percent as of Thursday, the NBS press service released on Thursday.

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