Serbia’s Bank Governor to N1: No risk of over-borrowing

NEWS 18.10.2019 18:57
Source: N1

Jorgovanka Tabakovic, Serbia’s National Bank (NBS) Governor, told N1 on Friday that higher wages and pensions in 2020 should accelerate the economic growth through higher demand.

Speaking to N1 at the sidelines of the International Monetary Fund (IMF) annual meeting in Washington, she said that Serbia did not have access to cheap money in the last period, but that the country managed to repay some two billion Dollars old debts in 2018.

Reacting to one of the IMF warnings tha low-interest rates could make countries to borrow more, Tabakovic said there was no such risk for Serbia since it had a sustainable GDP growth.

She added that NBS said that Serbia’s future growth which IMF confirmed to be 3.5 percent this and four percent next year was based on the domestic demand and direct foreign investments.

“And that perfectly fits what we do in the given fiscal space on the stable and sustainable bases,” Tabakovic told N1.