All News on Economics in Serbia
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.
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.
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.
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.
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 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
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.