Trade deficit remains major problem
A minister in charge of trade and services says Serbia has a respectable rise in exports in the first nine months of 2007.
Friday, 02.11.2007.
14:27
A minister in charge of trade and services says Serbia has a respectable rise in exports in the first nine months of 2007. The figure is almost 40 percent up on last year, Predrag Bubalo (DSS) told journalists. Trade deficit remains major problem "A very serious process of privatization is being finalized, providing conditions for the overall economic development to become even faster," he added. But, according to Bubalo, one of the problems the Serbian economy is facing is the huge trade deficit, mostly stemming from importing ever pricier fuels, most notably oil and natural gas, but also electricity. The minister blamed this on the fact the country has not built a new plant to service its power needs "in years". "Energy accounts for one third of imports, another third goes to equipment and raw materials, which makes sense, since we once again, after a long lull, have a significant rise in investments." "Anyway, it's better to import raw materials than final products," the minister said, and added the best way to lower trade deficit figures was to increase export, rather than curb import. As for the accelerated rise in prices, Bubalo believes this is for the most part a result of the drought which rendered the harvest of most of the crops, including corn and wheat, significantly lower, and rejected opinions that the price hikes had to do with monopolies in the Serbian market.
Trade deficit remains major problem
"A very serious process of privatization is being finalized, providing conditions for the overall economic development to become even faster," he added.But, according to Bubalo, one of the problems the Serbian economy is facing is the huge trade deficit, mostly stemming from importing ever pricier fuels, most notably oil and natural gas, but also electricity.
The minister blamed this on the fact the country has not built a new plant to service its power needs "in years".
"Energy accounts for one third of imports, another third goes to equipment and raw materials, which makes sense, since we once again, after a long lull, have a significant rise in investments."
"Anyway, it's better to import raw materials than final products," the minister said, and added the best way to lower trade deficit figures was to increase export, rather than curb import.
As for the accelerated rise in prices, Bubalo believes this is for the most part a result of the drought which rendered the harvest of most of the crops, including corn and wheat, significantly lower, and rejected opinions that the price hikes had to do with monopolies in the Serbian market.
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