Balance of payments deficit up 33.6 percent

Serbia's balance of payments deficit totaled EUR 2.17bn in the first eight months of this year, which is 33.6 percent more than in the same period last year.

Izvor: Tanjug

Monday, 05.11.2012.

10:44

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BELGRADE Serbia's balance of payments deficit totaled EUR 2.17bn in the first eight months of this year, which is 33.6 percent more than in the same period last year. This is according to the Serbian Chamber of Commerce (PKS). Balance of payments deficit up 33.6 percent The rise of the deficit was primarily a result of a 14 percent hike in the foreign trade deficit and the fact remittances dropped some EUR 125.6 million. The trade deficit is expected to stabilize at last year's levels in the second half of the year as a result of investments in export-oriented sectors, the effects of fiscal consolidation and depreciation of the dinar. The rise in the current account deficit compared to last year is largely a consequence of increased interest payments. Tanjug

Balance of payments deficit up 33.6 percent

The rise of the deficit was primarily a result of a 14 percent hike in the foreign trade deficit and the fact remittances dropped some EUR 125.6 million.

The trade deficit is expected to stabilize at last year's levels in the second half of the year as a result of investments in export-oriented sectors, the effects of fiscal consolidation and depreciation of the dinar.

The rise in the current account deficit compared to last year is largely a consequence of increased interest payments.

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