Tabakovic: Serbia's economic landscape fundamentally transformed in past 12 years

BELGRADE - National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic says Serbia's economic landscape has been fundamentally transformed during her 12 years in office and that Serbia is now half a step away from an investment-grade rating.

"Serbia today is a country whose inflation is comparable to that of central European countries. It has a stable currency, a record high level of FX reserves, a stable financial system, orderly public finances, robust investment growth, vibrant exports and a sustainable external position," Tabakovic said in an NBS statement.

"High inflation inherited in late 2012 was cut to 2.2 pct within a year. By conducting an adequate monetary policy, we lowered inflation by 10 pp - from 12.2 pct at end-2012 to 2.2 pct at end-2013. Over the following eight years, until global inflationary pressures escalated in 2021, average inflation in...