2007 inflation forecast: 8.5 percent

Finance Minister Mirko Cvetković said that inflation would reach 8.5 percent by the end of the year.

Izvor: B92

Tuesday, 30.10.2007.

13:16

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Finance Minister Mirko Cvetkovic said that inflation would reach 8.5 percent by the end of the year. Cvetkovic said that the ministry believed at the beginning of the year that inflation could be kept down to 6.5 percent. 2007 inflation forecast: 8.5 percent The minister said that the higher rate had been down to price rises in electricity, infrastructure services, and fuel, together with the summer drought. He told B92 that Serbia did not need a very strong currency now, adding that the artificial strengthening of the dinar was effecting the foreign-trade balance because the cheaper Euro encouraged importers. Cvetkovic said that a wage freeze was still in effect, adding that they had been frozen at a realistic level, preventing them from increasing above the inflation rate. The finance minister (FoNet, archive)

2007 inflation forecast: 8.5 percent

The minister said that the higher rate had been down to price rises in electricity, infrastructure services, and fuel, together with the summer drought.

He told B92 that Serbia did not need a very strong currency now, adding that the artificial strengthening of the dinar was effecting the foreign-trade balance because the cheaper Euro encouraged importers.

Cvetković said that a wage freeze was still in effect, adding that they had been frozen at a realistic level, preventing them from increasing above the inflation rate.

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