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The Ukrainian crisis will cause a great economic shock

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The IMF mission stated that, after a slight decrease in 2020, the real gross domestic product recovered strongly in 2021, recording a growth of 7.4 percent, approaching its pre-pandemic trend, the National Bank of Serbia said after talks with the mission. IMF as part of the second review of the results of the agreed economic program supported by the non-financial Policy Coordination Instrument.

According to the statement of the NBS during the meetings, the Fund assessed that Serbia has shown that it has a good system of crisis management.

“The mission notes that the great economic shock that affects the global economic outlook, and especially Europe, and thus Serbia, will leave a mark on the economic recovery of all countries through supply chain disruptions, higher world commodity prices, effects on global financial conditions, confidence and lower growth of trading partners. “Inflation is driven by rising food prices and world energy prices, while core inflation in Serbia has remained significantly lower,” the NBS said.

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“An important factor of stability in Serbia, as this crisis shows, is the stability of the exchange rate and the certainty in business that this stability brings. “During the previous month, as well as during the previous episodes of increased international risks, we did not allow external shocks to lead to excessive fluctuations in the exchange rate,” said NBS Governor Jorgovanka Tabaković, Danas reports.

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