2010 inflation projection 4-8 percent

The Serbian government has announced that the 2010 monetary policy will remain focused on keeping the inflation within a set range of four to eight percent.

Izvor: Tanjug

Sunday, 27.12.2009.

16:05

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The Serbian government has announced that the 2010 monetary policy will remain focused on keeping the inflation within a set range of four to eight percent. The plan needs further analysis and work, seeing that it represents the base for the National Bank of Serbia's (NBS) inflation projections, says the letter of intent which the government sent to International Monetary Fund Managing Director Dominique Strauss-Kahn. 2010 inflation projection 4-8 percent The government intends to merge the banks Postanska stedionica and Privredna banka Pancevo by June 2010, and complete the negotiations with private investors on privatizing Credy banka from Kragujevac, while all the options concerning Srpska banka are still being considered. The NBS is expected to continue loosening its monetary policy, although cautiously, due to the risks that accompany constant expectations of inflation—possible quick recovery of aggregate demand, further growth in energy prices on the world market, and the planned increase in regulated prices. The existing system of managed fluctuations in the domestic currency’s exchange rate will be retained in accordance with the monetary policy framework as well, the government stated. The general aim that the Serbian government will try to achieve in reforming and reducing budget costs will be to bring the retirement fund expenditures down to around 10 percent of the gross domestic product (GDP) by 2015 compared to the 13 percent recorded in 2009, according to the letter, which was signed by Prime Minister Mirko Cvetkovic, NBS Governor Radovan Jelasic and Minister of Finance Diana Dragutinovic.

2010 inflation projection 4-8 percent

The government intends to merge the banks Poštanska štedionica and Privredna banka Pančevo by June 2010, and complete the negotiations with private investors on privatizing Credy banka from Kragujevac, while all the options concerning Srpska banka are still being considered.

The NBS is expected to continue loosening its monetary policy, although cautiously, due to the risks that accompany constant expectations of inflation—possible quick recovery of aggregate demand, further growth in energy prices on the world market, and the planned increase in regulated prices.

The existing system of managed fluctuations in the domestic currency’s exchange rate will be retained in accordance with the monetary policy framework as well, the government stated.

The general aim that the Serbian government will try to achieve in reforming and reducing budget costs will be to bring the retirement fund expenditures down to around 10 percent of the gross domestic product (GDP) by 2015 compared to the 13 percent recorded in 2009, according to the letter, which was signed by Prime Minister Mirko Cvetković, NBS Governor Radovan Jelašić and Minister of Finance Diana Dragutinović.

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