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Serbia, Gas prices will rise at least once this year, probably twice

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Gas prices will rise at least once this year, probably twice, General Director of Srbijagas Dušan Bajatović announced at the Kopaonik Business Forum, adding that the increase will apply to both citizens and businesses.

The incoming gas price increase is due to Srbijagas selling gas on the domestic market at a significantly lower price than the price at which it buys it from suppliers, said Bajatović.

The need to increase energy prices in Serbia is a move that is also backed by the head of the IMF mission to Serbia, Donald McGettigan.

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According to him, energy prices in Serbia are low and the sector needs reform, he added.

Under an arrangement Serbia struck with the IMF that is worth €2.4 billion, Serbia must raise electricity and gas prices another three times this year after it did so in January.

According to the IMF, the gas price increase should be “at least” 10%, while that of electricity should increase by at least 8%.

The IMF also approved a total of $800 million for the needs of Srbijagas, which according to Bajatović is not enough.

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