Serb Current-Account Gap Widens on Capital Outflows, Export Drop

Serbia’s current-account deficit widened by 52.5 percent in the first three months of 2012 from a year ago to 1.159 billion euros ($1.493 billion) amid capital outflows, lower exports and shrinking remittances.

Foreign direct investment fell 371.6 million euros. Net portfolio investment stood at 75.8 million euros after investors pulled 80 million euros out of government debt, the central bank, Narodna Banka Srbije, said on its website today.

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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