Serbian growth, export forecast reduced

The Ministry of Finance on Tuesday published a revised macroeconomic forecast for 2012, envisaging a lower rate of economic growth, Beta news agency reports. The ministry also now expectsnd slower exports compared to the figure announced in September. Serbian growth, export forecast reduced According to the latest estimate, GDP will grow by 1.5 percent next year or half the amount claimed in September. The ministry said that the corrections had been necessitated by the economic crisis, financial troubles and slower eurozone growth. This is compounded by shrinking foreign investment and a drop in both the domestic and foreign demand, which will cause both imports and exports to stall. Public-sector salaries and state pensions will grow by four percent in April 2012 and another 0.9 percent in October. Salaries paid by the state and pensions are adjusted based on the rate of inflation, which is expected to hit 3.5 percent by the end of next year. The general macroeconomic outlook for 2012 predicts a 10.2 percent rise in exports, when taken in euros, a drop of about three percent from the 13.5 percent announced in September. Imports are also slated to grow by 5.5 percent next year, which is 3.3 percent less than initially expected.

Serbian growth, export forecast reduced

According to the latest estimate, GDP will grow by 1.5 percent next year or half the amount claimed in September.

The ministry said that the corrections had been necessitated by the economic crisis, financial troubles and slower eurozone growth. This is compounded by shrinking foreign investment and a drop in both the domestic and foreign demand, which will cause both imports and exports to stall.

Public-sector salaries and state pensions will grow by four percent in April 2012 and another 0.9 percent in October.

Salaries paid by the state and pensions are adjusted based on the rate of inflation, which is expected to hit 3.5 percent by the end of next year.

The general macroeconomic outlook for 2012 predicts a 10.2 percent rise in exports, when taken in euros, a drop of about three percent from the 13.5 percent announced in September. Imports are also slated to grow by 5.5 percent next year, which is 3.3 percent less than initially expected.