International Reserves in Serbia
Serbia - International ReservesThe economy has been derailed by Covid-19. Foreign and domestic containment measures weighed heavily on the industrial sector and foreign demand; exports fell by over a quarter in May, while industrial output fell sharply in the same month, albeit at a slower pace than in the prior month. Global lockdown measures also negatively impacted the tourism sector, with arrivals again falling sharply in May. More positively, retail sales grew robustly in May due to the relatively brief domestic lockdown. However, Belgrade entered a state of emergency in early July due to a spike in new cases. Meanwhile, in the political arena, the ruling Serbian Progressive Party (SNS) won a landslide victory in elections on 21 June. Consequently, economic policy is unlikely to change in a significant manner. Main opposition parties, meanwhile, boycotted the election, deeming it an unfair ballot.
Serbia - International Reserves Data
|International Reserves (EUR)||10.4||10.2||10.0||11.3||13.4|
5 years of economic forecasts for more than 30 economic indicators.
Serbia International Reserves Chart
Source: Statistical Office
|Bond Yield||3.05||0.0 %||Dec 31|
|Exchange Rate||104.9||-0.31 %||Jan 01|
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July 31, 2020
Industrial output grew 2.6% in year-on-year terms in June, which contrasted May's 9.3% decrease.
July 9, 2020
On 9 July, the Executive Board of the National Bank of Serbia (NBS) maintained the key policy rate at an all-time low of 1.25%. In assessing the impact of the Bank’s previous monetary policy actions to mitigate the fallout from Covid-19, the NBS determined that its coordinated effort with the fiscal authorities to support the financial and real sector in the face of the pandemic will facilitate “the fastest possible” economic recovery.
Serbia: Ruling SNS handed landslide victory in June parliamentary elections, policy continuation expected
July 7, 2020
In parliamentary elections held on 21 June, the incumbent Serbian Progressive Party (SNS) won a landslide victory, which should translate into large-scale policy continuation.
June 30, 2020
Industrial production dropped 9.3% year-on-year in May (April: -16.6% yoy), according to a preliminary estimate.
June 12, 2020
Consumer prices fell 0.2% over the previous month in May, contrasting the flat reading in April.