Quarterly Monitor of economic trends and policies in Serbia, April-July 2007

Q2 2007 was more important for what it sowed than for what actually went on in the economy. This was a quarter when the 2007 Budget was passed, with a delay because of the formation of the new government. Immediately after that, a government Memorandum on the Budget, Economic and Fiscal Policy in 2008 was adopted. The 2007 Budget envisages a major rise in wages and public investments until the end of the year. This not very welcome fiscal expansion is the result mainly of obligations undertaken legally by the previous government. The new government's Memorandum announces a needed turnabout – cutting of spending and wage controls. Whether this will actually happen is a question.

The topics under the spotlight in this QM deal with the segment of structural reform in Serbia where the common thread is regulation. Also important and topical are the issues of the privatization and restructuring of big public enterprises, a sounder financial market (how the legislation regulating the financial market is applied), and promoting risk control in banking operations in keeping with international standards (implementing the Basel 2 standards)...

Quarterly Montor, complete document, download (.pdf) (5.98 MB):

Quarterly Monitor by the chapters, download:

Impressum, Table of Contents (.pdf) (110 kb).

From the Editor (.pdf) (96 kb).

Trends Review (.pdf) (226 kb).

Trends - International Environment (.pdf) (184 kb).

Trends - Prices Exchange Rate (.pdf) (532 kB).

Trends - Employment Wages (.pdf) (589 kB).

Trends - Economic Activity (.pdf) (727 kB).

Trends - BOP & Foreign Trade (.pdf) (740 kB).

Trends - Fiscal Flows & Policy (.pdf) (370 kB).

Trends - Monetary Flows & Policy (.pdf) (734 kB).

Trends - Financial Markets (.pdf) (1 MB).

Spotlight on 1 - Challenges and Possibilities of Applying Basel II Standards (.pdf) (151 kB).

Spotlight on 2 - The Quality of Financial Regulations (.pdf) (181 kB).

Spotlight on 3 - Restructuring and Privatization of Public Enterprises in Serbia (.pdf) (352 kB).

Appendix (.pdf) (1 MB).