Government "has solution for inflation"
The Serbian government has a plan to curb the rising inflation, and selling state-owned Telekom Srbija is part of it, says Diana Dragutinović.
Wednesday, 15.12.2010.
11:41
The Serbian government has a plan to curb the rising inflation, and selling state-owned Telekom Srbija is part of it, says Diana Dragutinovic. The finance minister also said that the double-digit inflation in the country - first in three years - is "the best that could have been achieved". Government "has solution for inflation" Serbians are particularly sensitive to this, considering what the country went through during the 1990s crippling hyper-inflation. For this reason, although under control, the rate that is highest in the region at this moment is worrying for many. Although the NBS has announced that prices will continue to grow in 2011, with the inflation reaching 14 percent, Dragutinovic claims that lower deficit and a more stable exchange rate will help stabilize the overall situation. The current IMF loan arrangement, worth EUR 2.9bn, will expire in April, but Dragutinovic was quoted as saying that she "did not rule out expending it as a precaution". The Quarterly Monitor publication says that the projected inflation rate for 2011 is 11 percent - but that the figure is in fact higher, considering that the rate reached 15 percent in the last five months. A member of the prime minister's economic team, Pavle Petrovic, believes that better coordination better the government and the central bank would "alleviate the effects". "It will be crucial to, in 2011, implement the agreed upon state and fiscal policies. If an election year were to see this slip, the NBS would have no means to stop the inflation," he said, and noted that the issue would then be "tied to the dinar exchange rate and foreign deficit". When it comes to the Serbian currency, it today gained 0.61 percent against the euro, after the NBS intervened by buying EUR 30mn in the inter-bank hard currency market. The exchange rate this Wednesday stands at RSD 105.48 for one euro. Diana Dragutinovic (Tanjug, file)
Government "has solution for inflation"
Serbians are particularly sensitive to this, considering what the country went through during the 1990s crippling hyper-inflation. For this reason, although under control, the rate that is highest in the region at this moment is worrying for many.Although the NBS has announced that prices will continue to grow in 2011, with the inflation reaching 14 percent, Dragutinović claims that lower deficit and a more stable exchange rate will help stabilize the overall situation.
The current IMF loan arrangement, worth EUR 2.9bn, will expire in April, but Dragutinović was quoted as saying that she "did not rule out expending it as a precaution".
The Quarterly Monitor publication says that the projected inflation rate for 2011 is 11 percent - but that the figure is in fact higher, considering that the rate reached 15 percent in the last five months.
A member of the prime minister's economic team, Pavle Petrović, believes that better coordination better the government and the central bank would "alleviate the effects".
"It will be crucial to, in 2011, implement the agreed upon state and fiscal policies. If an election year were to see this slip, the NBS would have no means to stop the inflation," he said, and noted that the issue would then be "tied to the dinar exchange rate and foreign deficit".
When it comes to the Serbian currency, it today gained 0.61 percent against the euro, after the NBS intervened by buying EUR 30mn in the inter-bank hard currency market.
The exchange rate this Wednesday stands at RSD 105.48 for one euro.
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