Q:
A:
Meeting to discuss measures to alleviate crisis in early September
Belgrade,
24 August 2011
Minister of Economy and Regional Development Nebojsa Ciric today stated that there are no indications that the new wave of the global economic crisis has reached Serbia.
Author:
Tanjug
Opening a roundtable discussion about Serbia’s preparedness to face the second blow of the economic crisis, Ciric announced that early in September the government will organise a meeting with representatives of the economy and banks to propose measures for the mitigation of any negative effects of this crisis.
The Minister recalled that high non-liquidity and a soaring unemployment rate are acute problems in the Serbian economy, adding that at the previous meeting about the new wave of the crisis he proposed that the central bank reduces the rate of the obligatory reserve and redirects funds to the economy.
As for reducing the unemployment rate, Ciric said that the best solution to this problem is to attract as much foreign investment as possible, stressing that foreign investors are still quite interested in coming to Serbia and opening new production facilities here. He noted that privatisation of public telecommunication company Telekom Srbija will not take place this year, adding that an inflow of foreign direct investment is expected this year to the amount of around €3 billion. As for macroeconomic data, the Minister said he does not expect any major problems by the end of the year because export in the first two quarters increased by around 37% compared to the same period last year. The export-to-import ration rose to 57% in the first two quarters of 2011, while in the same period last year in stood at 45%, Ciric specified, recalling the assessment by the International Monetary Fund according to which Serbia is expecting a 3% economic growth this year.
As for reducing the unemployment rate, Ciric said that the best solution to this problem is to attract as much foreign investment as possible, stressing that foreign investors are still quite interested in coming to Serbia and opening new production facilities here. He noted that privatisation of public telecommunication company Telekom Srbija will not take place this year, adding that an inflow of foreign direct investment is expected this year to the amount of around €3 billion. As for macroeconomic data, the Minister said he does not expect any major problems by the end of the year because export in the first two quarters increased by around 37% compared to the same period last year. The export-to-import ration rose to 57% in the first two quarters of 2011, while in the same period last year in stood at 45%, Ciric specified, recalling the assessment by the International Monetary Fund according to which Serbia is expecting a 3% economic growth this year.
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