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Serbia

Serbia Faces Political Crisis

After severe allegations against Prime Minister Ivica Dacic, the Serbian governing socialists reject to hold new elections. The coalition partner still supports Dacic.

February 4, 2013

Foreign Trade: Moderate Growth in Serbia

The overall external trade in the Republic of Serbia for the period January – December 2012 amounted to EUR 23619.1m.

February 1, 2013

Serbian Industrial Production Shrinks

The industrial production in the Republic of Serbia in December 2012, when compared to December 2011, increased by 0.7% and in relation to 2011 average, it increased by 7.1%.

February 1, 2013

ECB Extends Co-Operation with National Bank of Serbia

Today, the European Central Bank (ECB) decided to extend the two-year central bank cooperation programme with the National Bank of Serbia (NBS).

January 31, 2013

Serbia: Foreign Debt Grows

Despite eurobond issue, private sector deleveraging led to mild foreign debt growth, Raiffeisen Research reports.

January 30, 2013

Serbian Budget Deficit Lower than Expected

The government succeeded to achieve the 2012 budget deficit reading below the planned one, Raiffeisen Research reports.

January 30, 2013

Serbian Current Account Improves

As per seasonally adjusted data exports kept growing in November (+2.7% mom) after increasing in October by 0.8% mom, while imports fell by 4.5% yoy (Oct/12: +4.7% mom), Raiffeisen Research says.

January 29, 2013

Serbia: Industrial Production Shrinks

Industry turned downside, after funds under the government subsidy program were spent, Raiffeisen Research reports.

January 29, 2013

Serbia: Inflation Above Target Range

According to a country report published by Raiffeisen Research, inflation has bottomed in December 2012. The annual inflation comes at 12.2%.

January 29, 2013

Serbia: Inflation Grew Further

Last year, the Republic of Serbia has recorded an inflation rate of 12.1%.

January 22, 2013

Rostowski Calls for Further Interest Cuts

Polish minister of finance Jacek Rostowski wants NBP (Polish National Bank) to lower the base rate further.

January 21, 2013

Serbia: Dinkic Underlines Importance of South Stream Pipeline

The South Stream pipeline is a “national project” and of vital interest for Serbia, Minister of Economics Mladjan Dinkic says.

January 19, 2013

IMF to Visit Serbia Again

The International Monetary Fund underlines that Serrbia must reduce its public debt. At the same time, the government must stimulate economic growth, IMF says.

January 18, 2013

Serbia: Key Policy Rate Raised to 11.50 Percent

At its meeting today, the Executive Board of the National Bank of Serbia voted to raise the key policy rate by 0.25 percentage points to 11.50 percent.

January 18, 2013

Citizens in CESEE Countries Tend to Pessimism

According to a survey carried out by the opinion research institute marketagent.com, pessimism in the countries of central, east and southeast Europe persists.

January 16, 2013

Serbia: Time Pressure Grows

In order to become an EU-member, Serbia must present some substantial progress to Brussels.

January 14, 2013

Fitch: Austrian Banking Industry Depends on CESEE

According to the U.S. rating agency, the situation of Austrian banks strongly depends on the development in central, east and southeast Europe.

January 14, 2013

Serbia: Inflation Increases Again

In December, the inflation in the Republic of Serbia was up again. The yoy inflation rate remains high.

January 14, 2013

Serbia: External Debt Growing Due to Euro Revaluation

Up by € 746.4m or 3.1% from end-June 2012, external debt of the Republic of Serbia totalled € 24.8bn at end-September 2012.

January 11, 2013

Serbia: Public External Debt Shrinks

In total, public debt grew by 1% in the third quarter of 2012. The debt-to-GDP ratio falls slightly.

January 10, 2013

Serbian Government Emphasizes Need of Austerity

The government in Belgrade has prepared a fiscal consolidation program. In the next years, the public debt quota is expected to decrease slightly.

January 10, 2013

Serbia to Sign Loan Agreement with Russia

Tomorrow, Serbia´s Minister of Finance Mladjan Dinkic will visit Moscow.

January 10, 2013

Serbia: Doubts About Economic Development

Milos Bugarin, President of Serbia´s Chamber of Commerce demonstrates skepticism regarding the economic outlook issued by the government.

January 7, 2013

Serbia: Government Expects Recovery

In 2013, the Serbians will not benefit from the economic recovery, Prime Minister Ivica Dacic says.

January 5, 2013

Serbia: Foreign Trade Grows Moderately

The overall external trade in the Republic of Serbia for the period January - November 2012 amounted to: - € 21464.6m - which was a 4.3% increase compared to the same period 2011.

December 29, 2012

Serbian Industrial and Trade Sector Under Pressure

Retail trade is shrinking drastically, the manufacturing sector stagnates. GDP fell by 2.5% compared to autumn 2011.

December 29, 2012

Serbian Economic Performance Worsens

It was estimated that total economic activities in 2012, measured by gross domestic product and expressed at previous year prices, fell by 1.9% in comparison to the previous year.

December 28, 2012

Serbia: Recession Aggravates

Quarterly Gross domestic product of the Republic of Serbia down by 2.5% in the third quarter of 2012.

December 28, 2012

Serbia: Labor Market Still Tensioned

The official unemployment quota decreased slightly. In the last twelve months, the employment situation has improved.

December 28, 2012

WIFO: „Shut Down Hypo Group“

The Austrian Institute of Economic Research (WIFO) recommends closing the nationalized banking group. The number of banks is expected to shrink radically.

December 27, 2012

Serbia: Moderate Real Wage Growth

Salaries and wages per employee in the Republic of Serbia were up by 2.0% in November 2012.

December 27, 2012

Serbia Receives $ 800m Loan

The World Bank grants Serbia a loan of $ 800m. The loan covers Serbia´s budget deficit and enable the government to put more effort into infrastructure investments.

December 8, 2012

Hypo Group: Deadline Expires

Today, the first deadline for the sale of Hypo Group´s subsidiaries in Southeast-Europe expires.

December 7, 2012

Serbia: Government Demonstrates Optimism

Serbian Minister of Economics Mladjan Dinkic expects that the country´s exports will grow substantially in the next years.

December 7, 2012

Serbian Government Emphasizes Austerity Policy

Next year, the Serbian budget deficit is expected to come at 3.3% of GDP. Until 2015, the deficit will be lowered further, the government says.

December 4, 2012

Serbia: Industrial Data on the Rise

In Serbia, the economic activity and foreign trade grows again, the Statistical Office says.

December 1, 2012

Serbia: Manufacturing and Retail Industry Terminate Recession

As per seasonally adjusted data GDP grew in Q2/12 by 2.1% qoq after falling by 1.9% qoq in Q1/12, finally moving into the positive territory after declining four quarters in a row.

November 29, 2012

Serbia: Exports Decreasing

As per seasonally adjusted data exports fell in August by 0.4% mom (July/12: +2.2% mom), while imports fell by 1.9% mom (July/12: +0.2% mom). Trade deficit in Jan1Aug/12 widened further to € 4.0bn (+12.8% yoy).

November 29, 2012

Serbian Industrial Sector Expands

Surprising summer industry growth, local demand might hold more growth. Real wages grow slightly, Raiffeisen Research states.

November 28, 2012

Serbia: Budget Deficit Soared by 22.4%

This development was supported by sharper expenditures enlargement (+8.0% yoy) while fairly small revenue increase (+5.1% yoy), delivering public debt/GDP to 53.8% in September 2012.

November 28, 2012

Serbia: Real Income Shrinks

In October 2012, salaries and wages per employee in the Republic of Serbia decreased by 3.5% in real terms.

November 26, 2012

AUA to Strengthen CEE Network

After Air Berlin decided to reduce the number of flights from Vienna to Eastern European destinations, Austrian Airlines intends to fill the gap.

November 20, 2012

Serbian Government to Raise Corporate Tax

The austerity pressure forces the Serbian government to increase taxes. Serbia´s corporate tax will move from 10% to 15%.

November 20, 2012

Serbia Attempts New Economic Reforms

The Serbian government does not only want to pursue a strict austerity policy. The country aims to become more attractive for international investors.

November 17, 2012

Hypo Group: Cash Contributions Come at € 500m

The Austrian state has to inject another € 500m in the financially stricken nationalized bank. Furthermore, guarantees will increase by € 1.0bn.

November 14, 2012

Hypo Group Starts Selling Business in SEE

The nationalized Austrian banking group has to downsize drastically. Today, Hypo Group started to put the subsidiaries in Southeastern Europe for sale.

November 6, 2012

Croatia Does not Participate in South Stream Pipeline

The Russian gas pipeline South Stream will not run across Croatia. Initially, Croatia was viewed as transit country.

November 5, 2012

South Stream Pipeline: Gazprom Concludes Contract with Hungary

The Russian energy group Gazprom has negotiated the last conditions of the contract with Serbia and Hungary.

November 2, 2012

Belgrade to Sharpen Austerity Policy

Next year, Serbia reduces the budget deficit from 6.2% to 3.5% of GDP. The Serbian government expects that the economy will recover next year.

October 25, 2012

RHI Begins to Downsize in Europe

The Austrian refractories company plans to expand in Russia. In Europe, the first factories will be shut down in two years.

October 18, 2012
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