Jorgovanka Tabaković: National Bank of Serbia's Annual Financial Stability Report for 2018

Speech by Dr Jorgovanka Tabaković, Governor of the National Bank of Serbia, at the presentation of the Annual Financial Stability Report for 2018, Belgrade, 31 July 2019.

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

Ladies and gentlemen, esteemed members of the press, dear colleagues,

Welcome to the presentation of the Annual Financial Stability Report for 2018. Before you is a report for the year in which Serbia achieved the highest growth rate in the last ten years, maintained low and stable inflation and additionally strengthened the domestic financial system. The year in which long-term investment in our country increased and the share of public debt in GDP contracted further. I have to say that such results were achieved in the face of challenges from the international environment we have all been witnesses to - such as global protectionism, geopolitical tensions, or uncertainties surrounding the UK's exit from the European Union.

The Financial Stability Report starts with the ever important conditions in the international environment, because they have a significant bearing on the conditions at home too.