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Serbia, Half of the businessmen increased the prices of finished products due to costs

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The increase in production costs forced half of the businessmen to increase the prices of finished products and services in the third quarter of 2022, according to the survey of the Serbian Chamber of Commerce (PKS) “Business activity of economic entities in the Republic of Serbia”.

By the end of the year, the domestic economy expects an increase in turnover and exports, a stable business climate and employment, but the biggest challenges faced by companies are the higher costs of purchasing energy, raw materials and raw materials, as well as the increase in the prices of finished products.

The research was conducted on a sample of about 1,800 companies, and the fact that production costs have increased in 81 percent of the surveyed companies, while 51 percent of the surveyed businessmen have increased the prices of finished products or services, is worrying.

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Respondents point out that lower resource prices are a key factor in more efficient operations and capacity utilization.

The PKS announcement states that around 80 percent of surveyed companies expect to end 2022 with the same or higher turnover, 84 percent of surveyed exporters expect stable export activities, mostly in agriculture, food industry and service activities, while 93 percent of respondents do not plan to reduce the number workers in the fourth quarter.

The threat to achieving the projected economic growth of GDP between two and three percent in the current year is represented by disruptions on the supply and demand side when it comes to basic raw materials and raw materials that our companies use as inputs in the production process.

Additional risks include: high inflation, tightening of monetary conditions, geopolitical risks, interruptions in global supply chains.

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Nevertheless, 76 percent of the surveyed companies pointed out that they have enough financial resources for optimal business financing, while two thirds of them had enough funds for investments in the third quarter of 2022.

The companies that participated in the PKS survey, according to the financial reports for this year, achieved a total business income of 22.7 billion euros, and employed 287,000 workers in September 2022.

In the third quarter of this year, they realized a total of 8.6 billion euros in exports, 84 percent more than in the same quarter of 2021, and six billion euros in imports, which is 29 percent more than in the same period last year, Nova Ekonomija writes.

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