"Inflation to reach 12.5 pct"

The Economic Institute experts have projected this year's inflation figure in Serbia to reach "at least 12.5 percent", Beta news agency says.

Izvor: Beta

Tuesday, 03.06.2008.

14:56

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The Economic Institute experts have projected this year's inflation figure in Serbia to reach "at least 12.5 percent", Beta news agency says. The institute's associate Stojan Stamenkovic pointed out in Belgrade today that this number is significantly higher than the eight percent given in the new Budget Memorandum. "Inflation to reach 12.5 pct" The rising inflation has been influenced by soaring energy and food prices, he said, and added that the burden of fighting this has fallen on the central bank, NBS, which does so by hiking its key policy rate. "This year has been lost, from the standpoint of economic policy," Stamenkovic believes, and advises thorough public sector reforms that would produce a cheaper and more efficient state.

"Inflation to reach 12.5 pct"

The rising inflation has been influenced by soaring energy and food prices, he said, and added that the burden of fighting this has fallen on the central bank, NBS, which does so by hiking its key policy rate.

"This year has been lost, from the standpoint of economic policy," Stamenković believes, and advises thorough public sector reforms that would produce a cheaper and more efficient state.

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