Serbia much more prepared for possible crisis - economists

In case a new global economic crisis does erupt, Serbia is now in a much better financial situation than it was in 2008 and much more prepared, economists with the MAT magazine said Thursday.

10 Jan 2019 17:13

BELGRADE - In case a new global economic crisis does erupt, Serbia is now in a much better financial situation than it was in 2008 and much more prepared, economists with the MAT magazine said Thursday.


"We have a public debt that is on a trajectory towards zero debt - it is falling at an accelerated rate, which is probably a record rate if we look at European countries," Ivan Nikolic said at the Chamber of Commerce and Industry of Serbia.


He said Serbia had net foreign exchange reserves of over 10 bln euros, as opposed to around 3.5 bln in 2008.


The country is in an incomparably better situation in terms of the structure of its economy and in terms of financial indicators, he said.


Miladin Kovacevic said a potential crisis was not expected to be as severe as the one in 2008.


"There is a cyclical adjustment - many say it is a continuation of the old crisis despite growth in recent years and structural and monetary measures," he said.


The present situation is drastically different because, unlike in 2008, Serbia has no budgetary or foreign trade imbalances, he said.

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