Serb 11-Month Current-Account Gap Rises to $3.7 Billion

Jan. 28 (Bloomberg) -- Serbia’s current-account deficit widened 14.7 percent in the first 11 months of 2012 from a year earlier after the shortfall in November was the smallest monthly gap since the start of the year.

The deficit widened to 2.747 billion ($3.69 billion) through November, with the trade gap expanding 4 percent and remittances dropping 5.8 percent on the year. Net foreign direct investments turned positive to reach an 11-month total of 136.9 million euros, down from 1.617 billion euros in the same period last year, according to the balance of payments report published by the Belgrade-based Narodna Banka Srbije today.

The central bank sees the full-year current-account gap at 3.1 billion euros, or 10.7 percent of gross domestic product.

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