The National Bank of Serbia (NBS) reacted quickly at the beginning of the Covid 19 pandemic and applied monetary measures on time, thanks to which the liquidity of the system was ensured, said tonight the president of the NBS Board of Governors and FEFA Faculty professor Nebojsa Savic.
He was a guest on the show “Oko” on RTS and said that as soon as the corona virus appeared in Serbia, and a week after the American Central Bank reacted, a moral intervention by the NBS followed, which included the same measures.
“Thanks to those measures that are equivalent to those introduced by the leading central banks, the liquidity of the system was ensured, and a package of fiscal measures followed,” Savic said.
He added that the world economy is recovering somewhat better than expected, but that it is not possible to “create a universal picture” and that there will be differences from country to country.
“In general, the trend will be based on what is happening in America or Europe, not because China is less important, but because it will not enter into such a deep problem as these two economies,” Savic said, adding that all previous recessions have shown that the fall was followed by a recovery that was somewhat faster in the beginning, and then stabilization.
Savic says that it is important that in the first eight months of this year, industrial production in Serbia practically compensated for the decline in other sectors, which, as he emphasized, is a good signal.
Also, the growth in construction continues, which is very important, says Savic.
He reminds that the projections are that the economic recovery in the world will follow in the third quarter of next year, but that the American economy must “pull” that recovery, Novosti reports.
