Central bank "to keep inflation at bay"

National Bank of Serbia (NBS) Governor Radovan Jelašić says he is certain the central bank will manage keep the core inflation at the planned level.

Izvor: Tanjug

Wednesday, 23.04.2008.

22:38

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National Bank of Serbia (NBS) Governor Radovan Jelasic says he is certain the central bank will manage keep the core inflation at the planned level. This level is between three and six percent this year, he reminded, and added that a more restrictive monetary policy will have to be exercised to this end. Central bank "to keep inflation at bay" During a business lunch of the American Chamber of Commerce in Serbia, Jelasic, G17 Plus, said that in addition to external factors, such as the global prices of oil and agricultural products, and the crisis of the international financial market, a major growth of salaries in Serbia, high public spending and rising debts largely contributed to the growth of the inflation. He said that "one could conclude from the past experience that citizens of Serbia do not enjoy a better life when their salaries are increased, but when the prices are stable". Jelasic added that there have been "no major structural reforms in the past 18 months", that there were no final plans on the privatization of the six large state-owned enterprises - NIS, EPS, Galenika, Jat Airways, Nikola Tesla Airport and Telekom Srbija. Additionally, the deadlines and methods of these privatizations remain unknown, he further said. Jelasic reminded that political stability is the key precondition for the country's macroeconomic stability. Jelasic, right, after today's business lunch (FoNet)

Central bank "to keep inflation at bay"

During a business lunch of the American Chamber of Commerce in Serbia, Jelašić, G17 Plus, said that in addition to external factors, such as the global prices of oil and agricultural products, and the crisis of the international financial market, a major growth of salaries in Serbia, high public spending and rising debts largely contributed to the growth of the inflation.

He said that "one could conclude from the past experience that citizens of Serbia do not enjoy a better life when their salaries are increased, but when the prices are stable".

Jelašić added that there have been "no major structural reforms in the past 18 months", that there were no final plans on the privatization of the six large state-owned enterprises - NIS, EPS, Galenika, Jat Airways, Nikola Tesla Airport and Telekom Srbija.

Additionally, the deadlines and methods of these privatizations remain unknown, he further said.

Jelašić reminded that political stability is the key precondition for the country's macroeconomic stability.

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