Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia

Opening remarks by Dr Jorgovanka Tabaković, Governor of the National Bank of Serbia, at the presentation of the Inflation Report - August 2017, Belgrade, 16 August 2017.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Ladies and gentlemen, dear colleagues,

Welcome to the presentation of the August Inflation Report. As always, we will give you an overview of monetary and macroeconomic trends for the period since the previous Report and set out our expectations for 2017 and 2018. However, before we move on to this, allow me to briefly venture outside the usual timeframe covered by this Report and look back at the results which the National Bank of Serbia achieved in the past five years, that is, in the period since my appointment as Governor. This period is long enough to allow us to take stock of what we have accomplished and of the challenges that are still ahead of us.

The presence of strong challenges emanating from the international environment, which heightened uncertainties in all markets, did not work in our favour, but also did not prevent us from achieving and maintaining price and financial stability in the five years behind us.

I would like to use this opportunity to highlight some of our key achievements as well as their significance for all of us.