Serbia maintains rating, recovery slower
BELGRADE -- In its July report, the Dun&Bradstreet (D&B) rating agency maintained Serbia's rating at DB4d, Beta news agency reports.
It places Serbia among the countries with moderate risk to business, and assessed that the growth of Serbia's economy was slower than expected.
"Business risk in Serbia is still elevated, as a consequence of lowered credit capabilities, an increased number of bankrupt companies and poor economic prospects. The high credit debt and the presence of a large number of foreign banks increase the risk of instability in the banking sector," it was said in the statement of the Rating Company from Belgrade, which represents the interests of D&B in Serbia and Montenegro.
"The Serbian economy is slowly coming out of the recession, but economic growth is slower than D&B expected and it indicates a slower global economic recovery and long-term credit progress," it was said in the statement.
D&B expects a further growth of business activities in Serbia during the year, which will be based on the increase of exports, prompted by increased global demand, but also by private investments.
It was added that private investments will be initiated by a more favorable situation on the financial market, cheap labor and the envisaged increase of investments of the Serbian government.
What will also support the economic growth, according to D&B, will be a restrictive monetary policy, lower required reserves and measures of the National Bank of Serbia for encouraging credits in dinars, as well as state subsidies for loans to businesses.
In the region, Slovenia still has the highest rating (DB2c). Croatia is next with DB3d, Bulgaria, Romania, Hungary and Albania are at DB4a, Macedonia and Greece at DB4b and Serbia at DB4d. Bosnia-Herzegovina has lower rating than Serbia's - DB6a.
July 31, 2010 | 15:48 | Source: Politika | Comments: (0) | Send comment
BELGRADE -- The main topic of the next round of talks with the IMF mission will be the law for fiscal responsibility.
July 31, 2010 | 12:45 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- Austrian construction company Alpina has submitted the best bid for constructing two sections of the Corridor 10 highway project.
July 30, 2010 | 10:40 | Source: Tanjug | Comments: (9) | Send comment
BELGRADE -- Serbia's Infrastructure Minister Milutin Mrkonjić has signed an agreement on forming a joint railway company with his Slovenia and Croat counterparts.
July 30, 2010 | 09:18 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- Former National Bank (NBS) Governor Radovan Jelašić on Thursday in Belgrade officially handed over his duties to newly elected Governor Dejan Šoškić.
July 30, 2010 | 09:54 | Source: Tanjug | Comments: (1) | Send comment
BELGRADE -- Despite the central bank intervention and a one-day recovery on Thursday, the Serbian dinar (RSD) has weakened against the euro again on Friday.
August 3, 2010 | 13:19 | Source: B92 | Comments: (0) | Send comment
BELGRADE -- Despite interventions of the National Bank of Serbia (NBS), the Serbian dinar (RSD) value continues to decrease.
August 2, 2010 | 16:31 | Source: Tanjug | Comments: (1) | Send comment
BELGRADE -- The Serbian dinar (RSD) exchange rate against the euro "already at the current level provides a sufficiently strong incentive for exports increase.
August 2, 2010 | 14:11 | Source: B92 | Comments: (0) | Send comment
BELGRADE -- Twenty months after work began on the bridge across the Ada Ciganlija artificial lake, one shore has been connected with the central pylon bridge.
August 3, 2010 | 17:06 | Source: Tanjug | Comments: (0) | Send comment
BEŠKA -- Infrastructure Minister Milutin Mrkonjić says Serbia will by the end of 2010 have a highway from the Sava River bridge in Belgrade to the Serbia-Hungary border.
July 29, 2010 | 09:30 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- The National Bank of Serbia sold EUR 11mn at the interbank foreign exchange market on Wednesday to ease excessive daily volatility of the dinar exchange rate.
August 2, 2010 | 16:25 | Source: Beta, Tanjug, HRT | Comments: (5) | Send comment
ZAGREB, BELGRADE -- Croatian oil company INA will be asking a Belgrade court to give 167 gas stations and EUR 117mn back to the company.
July 28, 2010 | 16:39 | Source: Beta | Comments: (0) | Send comment
BELGRADE -- Former National Bank of Serbia governor Radovan Jelašić said that he hopes that the central bank would not have to implement unpopular decision any time soon.
July 28, 2010 | 13:54 | Source: Tanjug | Comments: (0) | Send comment
BELGRADE -- The value of the Serbia dinar (RSD) has continued to fall despite interventions by the National Bank of Serbia (NBS).
July 28, 2010 | 16:42 | Source: Tanjug | Comments: (0) | Send comment
TURIN -- Fiat Executive Director Sergio Marchionne said that the production of two new models in Serbia would not hurt the Mirafiori Fiat factory in Italy.