"Goal of NBS is monetary stability without inflation"

BELGRADE New NBS Governor Jorgovanka Tabakovic says preserving monetary stability and keeping inflation in check would be among the central bank's key goals. The National Bank of Serbia (NBS) objectives were defined by law, she told B92 TV late on Monday, shortly after being elected to the office by MPs. "Goal of NBS is monetary stability without inflation" “The first step will be to convince the citizens that the National Bank of Serbia is a citizens and businesses' bank,” Tabakovic stated, pointing out that the central bank should base its success and employees' earnings on successes of the economy that is creating the money, but also on the citizens, who should be credited by the financial sector and banks. “It is not only of symbolic significance, but rather an attempt to get back to traditional banking, with banks lending to the economy and citizens and the NBS seeking to provide opportunities for the citizens and businesses to operate successfully, to improve the standards of living and to make the success of the economy the basis for the salaries of governors and all others in the NBS,” Tabakovic said. She pointed out that the NBS goals were defined by law and that “no one is laying their hands on them,” pointing out that the goal was monetary stability and that the state should keep inflation in check through a responsible attitude towards the exchange rate, without allowing non-competitiveness, cartels or monopolies to feed the inflation or allowing methods to override the objectives.” “The country's goal has to be an economic development that is taking place in a stable country,” Tabakovic said, noting that the state should have stable prices and take heed not to let inflation to heat up. When asked to comment on an opposition's calling her party affiliation to the ruling Serb Progressive Party (SNS) controversial during Monday's parliamentary debate, Tabakovic said that her main goal in politics was to work for the common good of all citizens and that the objection was out of place. Noting that she was "an economist in politics", the new governor said she was not "a professor, someone unaware what life was, who lived abroad, or in the clouds". but that instead she had "education and expertise, and 30 years' experience in the economy, banking and parliament, where laws are created". Tabakovic asserted that her independence was also guaranteed by the fact that she "owed nothing to anyone" - having achieved all she had "through her own work", and was for that reason able to "call a spade a spade". Jorgovanka Tabakovic (Tanjug) B92 Tanjug

"Goal of NBS is monetary stability without inflation"

“The first step will be to convince the citizens that the National Bank of Serbia is a citizens and businesses' bank,” Tabaković stated, pointing out that the central bank should base its success and employees' earnings on successes of the economy that is creating the money, but also on the citizens, who should be credited by the financial sector and banks.

“It is not only of symbolic significance, but rather an attempt to get back to traditional banking, with banks lending to the economy and citizens and the NBS seeking to provide opportunities for the citizens and businesses to operate successfully, to improve the standards of living and to make the success of the economy the basis for the salaries of governors and all others in the NBS,” Tabaković said.

She pointed out that the NBS goals were defined by law and that “no one is laying their hands on them,” pointing out that the goal was monetary stability and that the state should keep inflation in check through a responsible attitude towards the exchange rate, without allowing non-competitiveness, cartels or monopolies to feed the inflation or allowing methods to override the objectives.”

“The country's goal has to be an economic development that is taking place in a stable country,” Tabaković said, noting that the state should have stable prices and take heed not to let inflation to heat up.

When asked to comment on an opposition's calling her party affiliation to the ruling Serb Progressive Party (SNS) controversial during Monday's parliamentary debate, Tabaković said that her main goal in politics was to work for the common good of all citizens and that the objection was out of place.

Noting that she was "an economist in politics", the new governor said she was not "a professor, someone unaware what life was, who lived abroad, or in the clouds". but that instead she had "education and expertise, and 30 years' experience in the economy, banking and parliament, where laws are created".

Tabaković asserted that her independence was also guaranteed by the fact that she "owed nothing to anyone" - having achieved all she had "through her own work", and was for that reason able to "call a spade a spade".