NBS chief: Serious, unpopular measures
National Bank of ser (NBS) Governor Radovan Jelašić says the model on which domestic macroeconomic system was maintained needs to be changed.
Sunday, 01.02.2009.
11:19
National Bank of ser (NBS) Governor Radovan Jelasic says the model on which domestic macroeconomic system was maintained needs to be changed. In an article he published in daily Danas' weakened edition, he urged "serious and unpopular measures to be taken", underscoring that FDI of about EUR 1.7bn is needed in 2009 to finance the planned current payment deficit of 16.1 percent of the GDP. NBS chief: Serious, unpopular measures Jelasic also wrote that the model on which macroeconomic stability in Serbia and a number of other countries in the region had been based so far is no longer sustainable in mid-term. “The sooner we face the reality the sooner we will get ready to take a number of serious and unpopular measures and make smaller corrections,” according to the governor. Jelasic underscored that the way of maintaining the macroeconomic stability in Serbia so far, in which enormous current expenditure was financed from the privatization revenues and foreign loans, is no longer sustainable.
NBS chief: Serious, unpopular measures
Jelašić also wrote that the model on which macroeconomic stability in Serbia and a number of other countries in the region had been based so far is no longer sustainable in mid-term.“The sooner we face the reality the sooner we will get ready to take a number of serious and unpopular measures and make smaller corrections,” according to the governor.
Jelašić underscored that the way of maintaining the macroeconomic stability in Serbia so far, in which enormous current expenditure was financed from the privatization revenues and foreign loans, is no longer sustainable.
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