IZIT: Recession certainty in 2015

The Serbian economy will probably face recession in the year to come, due to the reform measures and fiscal consolidation.

Izvor: Tanjug

Friday, 07.11.2014.

16:44

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IZIT: Recession certainty in 2015

Addressing a news conference on Friday, IZIT economic analyst Saša Đogović said that in addition to the implementation of necessary reforms, the platform for future economic development needs to be created in 2015.

The local demand dropped this year already, and the drop will persist next year because the purchasing power will continue to drop due to the lower personal income and increased number of the jobless, he said.

On the other hand, the restructuring companies, some of which will be closed down, still contributed to production and their closing will signify lower production output, he noted.

Inflation will probably remain low, although increase may be recorded with certain government-controlled prices like electricity bills, Đogović said.

An increase in economic activity can be expected only in the construction industry and agriculture in 2015, he noted.

Đogović pointed to two positive signals, the scrap of public enterprise subsidies and the shutdown of around 100 restructuring companies for which no bids have been submitted, which will constitute additional relief for the budget.

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