Record high foreign exchange reserves
Outgoing National Bank of Serbia (NBS) Governor Radovan Jelašić said that the country's foreign exchange reserves are at a record high of EUR 11bn.
Tuesday, 11.05.2010.
13:12
Outgoing National Bank of Serbia (NBS) Governor Radovan Jelasic said that the country's foreign exchange reserves are at a record high of EUR 11bn. “In the talks with the International Monetary Fund, there will be no discussion of withdrawing additional funds, but of not withdrawing them, since Serbia obviously does not need them," he said in Belgrade this Tuesday. Record high foreign exchange reserves Discussing NBS's monetary policy for 2010 before the Serbian parliament's Finance Committee, Jelasic said that he expects the inflation rate will continue to drop by mid year, reaching 3.5 percent in June. According to him, the drop is a result of restrictive monetary policy, frozen salaries and pensions and the effects of the economic crisis. Jelasic noted that the reference interest rate has been in continual decline and is currently at eight percent. He had that the inflation rate at the end of March was 4.6 percent and that NBS forecasts have the April rate at 4.3 percent. He reminded that NBS has set the 2010 inflation rate at six plus-minus two percent. Year-end inflation was 6.6 percent in 2009. Radovan Jelasic (Tanjug)
Record high foreign exchange reserves
Discussing NBS's monetary policy for 2010 before the Serbian parliament's Finance Committee, Jelašić said that he expects the inflation rate will continue to drop by mid year, reaching 3.5 percent in June.According to him, the drop is a result of restrictive monetary policy, frozen salaries and pensions and the effects of the economic crisis.
Jelašić noted that the reference interest rate has been in continual decline and is currently at eight percent.
He had that the inflation rate at the end of March was 4.6 percent and that NBS forecasts have the April rate at 4.3 percent. He reminded that NBS has set the 2010 inflation rate at six plus-minus two percent. Year-end inflation was 6.6 percent in 2009.
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