Serbia in "biggest industrial production drop since 2000"
In February, Serbia's industrial production recorded the biggest drop since October 2000, and if the trend continues the country will face recession.
Tuesday, 10.04.2012.
15:41
In February, Serbia's industrial production recorded the biggest drop since October 2000, and if the trend continues the country will face recession. This was heard from economic expert Stojan Stamenkovic, who spoke on Tuesday in Belgrade. Serbia in "biggest industrial production drop since 2000" Stamenkovic noted that the result of the trend will be notable in March and April, adding that it is a question whether the drop is only the consequence of the weather conditions, or rather of the declining trend from the second half of 2011, which can influence a further decline in gross domestic product (GDP). The GDP growth rate could be lower than 0.5 percent, he cautioned. When compared to 2011 average, the seasonally adjusted industrial production index dropped by 14.6 percent and in relation to January 2012 it dropped by 13 percent, he said at the presentation of the new edition of the magazine Macroeconomic Analysis and Trends. Stamenkovic pointed out that the biggest drop was recorded in the production of steel, due to suspension of the production at the Smederevo steel plant, and also in the metal processing industry and mining. The expert stressed that in the past three decades, the industrial production saw the biggest drop in June 1992 due to sanctions imposed by the UN, in April 1999 during the NATO bombing, and in October 2000, as the regime changed in Serbia. Tanjug
Serbia in "biggest industrial production drop since 2000"
Stamenković noted that the result of the trend will be notable in March and April, adding that it is a question whether the drop is only the consequence of the weather conditions, or rather of the declining trend from the second half of 2011, which can influence a further decline in gross domestic product (GDP).The GDP growth rate could be lower than 0.5 percent, he cautioned.
When compared to 2011 average, the seasonally adjusted industrial production index dropped by 14.6 percent and in relation to January 2012 it dropped by 13 percent, he said at the presentation of the new edition of the magazine Macroeconomic Analysis and Trends.
Stamenković pointed out that the biggest drop was recorded in the production of steel, due to suspension of the production at the Smederevo steel plant, and also in the metal processing industry and mining.
The expert stressed that in the past three decades, the industrial production saw the biggest drop in June 1992 due to sanctions imposed by the UN, in April 1999 during the NATO bombing, and in October 2000, as the regime changed in Serbia.
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