All News on Economics in Serbia

Foreign currency reserves increase by EUR 300 million

BELGRADE - The foreign currency reserves of the National Bank of Serbia (NBS) totalled around EUR 10.3 billion at the end of February, which is by around EUR 300 million more than in late January, and this ensures M1 coverage of 311 percent and around seven months' worth of import of goods and services, NBS released on Wednesday.

Foreign currency reserves increase by EUR 300mn

Foreign currency reserves increase by EUR 300mn

BELGRADE -- The foreign currency reserves of the National Bank of Serbia (NBS) totalled around EUR 10.3 billion at the end of February.

This is some EUR 300 million more than in late January, and ensures M1 coverage of 311 percent and around seven months' worth of import of goods and services, the NBS said on Wednesday.

Seven companies want to manage Zelezara

BELGRADE- A total of seven companies applied to manage public enterprise Zelezara Smederevo, but only six of them sent their official bids for a contract, Bojan Bojkovic, executive director of the only Serbian steelworks, said Saturday.

Tabakovic: 2015-year for solving issue of bad loans

KOPAONIK - National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic said on Tuesday that for the NBS, finance ministry and banks, this is the year to solve the issue of the high number of non-performing loans (NPLs).

Serbia needs new policy of industrialization

BELGRADE - Serbia needs a new policy of industrialization to boost production and employment, and the upcoming Kopaonik Business Forum could offer solutions for this challenge, said Forum Chairman Dragan Djuricin.

Vujovic says goal is to reduce public debt and deficit

BELGRADE - Serbia's Minister of Finance Dusan Vujovic said on Tuesday the fundamental goal of the new three-year arrangement with the IMF was to reduce the public debt share in GDP by 2017 and lower the budget deficit to around 3 percent of GDP.

NBS steps up banking supervisions in cooperation with IMF

BELGRADE - The National Bank of Serbia (NBS) announced on Monday that it will launch an initiative aimed at improving the framework for resolving the issues of problematic banks, and taking action with a view to solving the issue of the high level of problematic loans.

Lowest inflation in past 40 years

BELGRADE - The increase of consumer prices in Serbia totalled 1.7 percent in 2014, which constitutes the lowest inflation rate in the past four decades, the analysis drafted by the Ministry of Trade shows.

Bankruptcy procedure starts in 70 companies

BELGRADE - The Privatisation Agency will initiate on Tuesday the bankruptcy proceedings in 70 government companies that do not have any employees, head of the agency Ljubomir Subara has stated.

According to the action plan the Serbian government adopted on Saturday, 188 companies from the agency's list for privatisation will go bankrupt.

Vujovic: Serbia expects WB support in reform projects

VIENNA- Serbia is conducting a three-year fiscal consolidation program and expects support from the World Bank (WB) in a number of reform projects, Serbian Finance Minister Dusan Vujovic said Tuesday at the Central and Eastern European Forum 2015, a Euromoney conference taking place in Vienna.

World Bank issues report on growth prospects in SEE

BELGRADE - Positive economic growth is expected this year throughout the region, with the exception of Serbia, whose gross domestic product is projected to drop by 0.5%, according to the World Bank's latest South East Europe Regular Economic Report.

Questions BIRN sent World Bank

Questions BIRN sent World Bank's Headquarters in Washington on January 12:

1.    How did the World Bank establish that this tender was transparent? Whose expertise provided the basis for the statement of Vesna Kostic, the World Bank's spokesperson?

"Moderate rise in inflation ahead"

"Moderate rise in inflation ahead"

BELGRADE -- The inter-annual inflation will see a moderate increase after January this year, approaching the lower limit of the allowed deviation from the target.

That has been set at 2.5 percent by mid 2015, the National Bank of Serbia (NBS) said on Monday.

188 companies to be declared bankrupt - minister

188 companies to be declared bankrupt - minister

BELGRADE -- Of some 512 companies that are currently looking for new owners through the Privatization Agency, 188 will be declared bankrupt, Zeljko Sertic has said.

The Serbian economy minister also explained that procedures to sell about 90 companies have been abandoned.

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