Jelašić: Economy better than expected

National Bank of Serbia Governor Radovan Jelašić says that the economic situation is a lot better than forecast at the end of 2008.

Izvor: B92

Tuesday, 15.09.2009.

12:16

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National Bank of Serbia Governor Radovan Jelasic says that the economic situation is a lot better than forecast at the end of 2008. He said that stabilization had been achieved despite the fact that Serbia was losing EUR 108-130mn a month, wages and pensions were frozen, and the inflation rate of eight percent was one of the highest in the region. Jelasic: Economy better than expected Jelasic told B92 that the state must reform the economic system in order to help the country recover, either by cutting spending or increasing income. “In the meantime, things have really stabilized. We don’t expect a further decline in economic activity, no more increases in unemployment, and there have been no more falls in foreign trade activities,” Jelasic said. “These are positive things, because we were constantly undermining macro-economic conditions, particularly in the last quarter of last year and the first quarter of this year. It is significant, but nowhere near enough, because it would be best to get back to where we were earlier in the space of a few months,” he said. Radovan Jelasic (FoNet, archive)

Jelašić: Economy better than expected

Jelašić told B92 that the state must reform the economic system in order to help the country recover, either by cutting spending or increasing income.

“In the meantime, things have really stabilized. We don’t expect a further decline in economic activity, no more increases in unemployment, and there have been no more falls in foreign trade activities,” Jelašić said.

“These are positive things, because we were constantly undermining macro-economic conditions, particularly in the last quarter of last year and the first quarter of this year. It is significant, but nowhere near enough, because it would be best to get back to where we were earlier in the space of a few months,” he said.

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