Central bank governor says inflation "at 40-yr low"

National Bank of Serbia (NBS) Governor Jorgovanka Tabaković has said that annual inflation in November equaled 1.6 percent.

Izvor: Beta

Monday, 23.12.2013.

10:48

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BELGRADE National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic has said that annual inflation in November equaled 1.6 percent. This is "a 40-year low," she told the annual news conference late last week. Central bank governor says inflation "at 40-yr low" Tabakovic said that the drop in inflation "stemmed from the people's general low purchasing power and a successful agricultural season as well, in addition to new monetary measures." The central bank has predicted four-percent inflation for this year, give or take 1.5 percent. According to estimates, consumer goods prices will remain in that bracket in 2014, Beta is reporting. Foreign currency reserves hit EUR 11.1 billion in December, while the monetary authority's net currency reserves were EUR 7.8 billion, an all-time high, according to the central bank. The influx of direct foreign investments in Serbia by the end of November this year was EUR 630 million and is expected to reach about EUR 700 million by the end of the year, it has also been announced. A moderate growth of foreign investments is expected in 2014, so they should be at around EUR 1 billion. Tabakovic said that the central bank had expected EUR 1 billion in foreign investments in 2013, "because a bank from the United Arab Emirates should have opened a branch in Serbia." "That has not happened yet, because this are serious investors who are preparing their documentation and want to prevent any problems, but the procedure will be completed successfully," she added. (Beta) Beta Tanjug

Central bank governor says inflation "at 40-yr low"

Tabaković said that the drop in inflation "stemmed from the people's general low purchasing power and a successful agricultural season as well, in addition to new monetary measures."

The central bank has predicted four-percent inflation for this year, give or take 1.5 percent. According to estimates, consumer goods prices will remain in that bracket in 2014, Beta is reporting.

Foreign currency reserves hit EUR 11.1 billion in December, while the monetary authority's net currency reserves were EUR 7.8 billion, an all-time high, according to the central bank.

The influx of direct foreign investments in Serbia by the end of November this year was EUR 630 million and is expected to reach about EUR 700 million by the end of the year, it has also been announced.

A moderate growth of foreign investments is expected in 2014, so they should be at around EUR 1 billion.

Tabaković said that the central bank had expected EUR 1 billion in foreign investments in 2013, "because a bank from the United Arab Emirates should have opened a branch in Serbia."

"That has not happened yet, because this are serious investors who are preparing their documentation and want to prevent any problems, but the procedure will be completed successfully," she added.

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