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Macroeconomic Snapshot – Serbia

DPA / VBT Visit 30th May Hotel Moskva, Belgrade. Macroeconomic Snapshot – Serbia. Key observations. GDP growth of Serbia is related to trends in the EU After strong growth in period 2000-2005, in last six years average growth was 2.1 % Inflation is like a family member

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Macroeconomic Snapshot – Serbia

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  1. DPA / VBT Visit 30th May Hotel Moskva, Belgrade Macroeconomic Snapshot – Serbia

  2. Key observations GDP growth of Serbia is related to trends in the EU After strong growth in period 2000-2005, in last six years average growth was 2.1% Inflation is like a family member Economy functions with inflationary expectations higher than in the EU, average for last six years 6.7% The EU is a key foreign trade partner of Serbia Trade deficit is a traditional problem Unemployment is high Low labourcosts Budget deficit linkedwith IMF stand-by agreement

  3. GDP andgrowth Source: National Bank of Serbia and the IMF

  4. GDP (in €, mln) Source: National Bank of Serbia and Ministry of Finance

  5. Inflation (%) Source: National Bank of Serbia and the IMF

  6. Foreigntrade Source: National Bank of Serbia and Statistical Office

  7. Trade deficit and GDP Source: National Bank of Serbia and Statistical Office

  8. Unemployment Source: Statistical Office

  9. Labour costs in € Source: National Bank of Serbia and Statistical Office

  10. Public debt Source: National Bank of Serbia

  11. Whatcoulditmeanforyou? Recovery of the local market slow Inflationless of a risk thanbefore (Gradual) depreciation of localcurrency Costs of labourtoremaincompetitive Calculating FX risks whensellingtoSerbia Fiscal policy reformsnecessary Reductionof subsidies

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