Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Serbian Premier Says Dinar Weakening ‘Temporary’

May 28 (Bloomberg) -- Serbian Prime Minister Mirko Cvetkovic said the recent weakening of the dinar is “temporary” and that the currency should stabilize “soon.”

Industrial output rose 11 percent over the first four months of the year as the economy recovers from its first recession in more than a decade, Cvetkovic told a news conference in Belgrade today.

“I also don’t expect the central bank to increase the repurchase rate because of slow inflation and the high level of currency reserves,” Cvetkovic said.

The economy contracted 3 percent last year, when the Balkan nation took a 3 billion-euro ($ billion) bailout loan from the International Monetary Fund to bolster currency reserves. The central bank expects gross domestic product to grow 1.5 percent in 2010 and 3 percent in 2011. Industrial production grew 4.8 percent in April from the previous month, Cvetkovic said today.

The dinar has weakened about 8 percent against the euro this year, Bloomberg data shows. It traded at 102.80 per euro as of 4:07 p.m. in Belgrade, versus 102.71 the previous trading day.

To contact the reporter on this story: Aleksandra Nenadovic in Belgrade at anenadovic@bloomberg.net

To contact the editor responsible for this story: Alan Crosby at acrosby1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.