Next year, we expect growth of about six percent, which means a complete recovery from the effects of the pandemic, said the governor of the National Bank of Serbia, Jorgovanka Tabakovic, who attended the plenary meeting of the International Monetary and Financial Committee (IMFC) and the Swiss Constituency.
The meeting was held within the Annual Assembly of the International Monetary Fund and the World Bank, which, due to the current health situation, is being held in a virtual format. Tabakovic is also the governor of Serbia in the International Monetary Fund.
It is estimated that the global economic outlook is improving, but also that there are differences between countries, ie that the recovery is partial and uneven.
“The conclusion is that everyone must work together to provide support to the most endangered countries, and that now is the time to build a more resilient future. Policies must preserve trust, support jobs and encourage growth,” the statement said.
Governor Jorgovanka Tabakovic also attended the meeting of the Swiss Constitution, at which she informed the other member states of the Constitution that the Crisis Staff for Economy was established in Serbia in March, headed by President Vucic.
“We continued to act in a coordinated manner – a huge package of measures was adopted in Serbia, the value of which is over 12 percent of the gross domestic product,” said Tabakovic.
According to her assessment, the speed of reaction and the volume of the package proved to be key to preventing the spillover of the negative effects of the pandemic on the labor market and production capacities.
According to the NBS statement, the International Monetary Fund assessed that Serbia has adopted a strong, timely and comprehensive package of measures, which supported domestic demand and prevented the decline of business and consumer confidence at a time when global pessimism was most pronounced.
According to Tabakovic, Serbia has maintained excellent access to the world market even in conditions when the uncertainties were great. And during this situation, it preserved full price, macroeconomic and financial stability.
In Serbia, in August, the production of both the total and processing industries was at a level that was 3.1 percent, or 1.3 percent above the pre-crisis level, and exports also reached the pre-crisis level, she added.
Confidence has been preserved, and next year we expect growth of about 6 percent, which means a complete recovery from the effects of the pandemic, to which state investments will significantly contribute, said Tabakovic.
“However, I do not consider our work finished, because it never ends. We will continue to monitor all movements and react if we assess that there is a need,” concluded Jorgovanka Tabakovic, Danas reports.