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Serbia
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
Albania to Become Official Candidate
The Western Balkan country was recommended by the EU Commission. Serbia and Kosovo must reach a “sustainable solution”.
October 10, 2012
Serbia´s National Bank Fights Against Inflation
Today, the Serbian National Bank raised the base rate from 10.50% to 10.75%. IMF has lowered the economic outlook for Serbia.
October 9, 2012
"Serbia can count on Austria to be its partner"
The Austrian State Secretary encourages Serbia to embark on pro-European course.
October 5, 2012
EU as „Serbia´s Most Important Market“
The U.S. economist Paul Krugman thinks that Serbia´s future is the European Union. The EU is worried about the turn towards Russia.
October 4, 2012
Serbia to Grow in 2013
The Serbian economist Jurij Bajec explained that the Serbian economy will recover next year. Real GDP growth will reach 2.0%, he says.
October 1, 2012
Serbia Expects Rising Tax Intake
In order to meet demands of IMF, the Serbian Parliament approved the revised 2012 budget. The tax intake will not solve the country´s problems, economists consider.
September 29, 2012
Serbia: Bad Loans Declining Slightly
At the end of June, the share of non-performing loans came at 19.5%.
September 29, 2012
Serbian Industrial Production Still Shrinks
According to Raiffeisen Research, the crisis in the industrial sector goes on. Real wages are shrinking.
September 27, 2012
Serbia Asks China for Loan
The Serbian Minister of Finance Mladjan Dinkic asked the Chinese Exim Bank for a € 850m loan in order to realize construction projects. IMF is not satisfied with Serbia´s austerity policies yet.
September 26, 2012
Dacic: „Reforms, Attracting Investments and Starting EU Integration“
The Serbia Prime Minister Ivica Dacic underlined that the government will implement reforms in order to stop the economic crisis.
September 26, 2012
Serbia: „EU Cannot Force Us to Recognize Kosovo´s Independence“
The Serbian Prime Minister is ready to continue talks with Kosovo at a higher political level. For the EU, a recognition of Kosovo´s indepence is the precondition for Serbia´s EU accession.
September 22, 2012
Serbia Attempts to Stop Rise in Public Debt
The Serbian government aims to achieve a balanced buget in 2014. Austerity measures should be sharpened.
September 22, 2012
Serbia to Privatize Publicly Held Companies
In order to reduce the budget deficit, the Serbian Minister of Finance Mladjan Dinkic plans to sell a part of the state-owned companies.
September 22, 2012
Serbian EU Approach Endangered
The Serbian government rejects making concessions to Kosovo. The EU accession may be damaged, however.
September 19, 2012
Serbia Lifts VAT Rate
In order to prevent the national bankruptcy, the Serbian government raises the VAT by two percentage points.
September 11, 2012
RWE Agrees to Strategic Collaboration with Serbian Energy Utility EPS
The German energy group has signed a Memorandum of Understanding on further development of energy generation in Serbia. The focus will be on laid on hydropower.
September 11, 2012
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