2007 inflation at 8.5% - minister

Finance Minister Mirko Cvetković says inflation this year will peak at 8.5 percent, if it continues at the current rate.

Izvor: Beta

Wednesday, 26.09.2007.

14:58

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Finance Minister Mirko Cvetkovic says inflation this year will peak at 8.5 percent, if it continues at the current rate. This would be in excess of 6.5 percent planned at the beginning of the year. 2007 inflation at 8.5% - minister "It is realistic to expect that the rise in food prices, brought about as a result of the drought, will continue in September, which will have a negative effect, with inflation this month possibly reaching one percent," Cvetkovic announced today at the Fourth Economic Conference on Creative Banking organized by the Raiffeisen Bank in Belgrade. He added that the state would face a fall in output in the agricultural industry, which would lead to a somewhat lower rate of GDP growth. However, he predicted that in spite of this, "Serbia’s growth rate will remain very high, which will allow GDP this year to be around the EUR 30bn mark." That, the minister said, will be "around EUR 4,500 per head of the population."

2007 inflation at 8.5% - minister

"It is realistic to expect that the rise in food prices, brought about as a result of the drought, will continue in September, which will have a negative effect, with inflation this month possibly reaching one percent," Cvetković announced today at the Fourth Economic Conference on Creative Banking organized by the Raiffeisen Bank in Belgrade.

He added that the state would face a fall in output in the agricultural industry, which would lead to a somewhat lower rate of GDP growth.

However, he predicted that in spite of this, "Serbia’s growth rate will remain very high, which will allow GDP this year to be around the EUR 30bn mark."

That, the minister said, will be "around EUR 4,500 per head of the population."

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