Serbia: balance of payments deficit grows by 42.5% in 2011

20 March, 14:16

    (ANSAmed) - BELGRADE, MARCH 20 - Serbia's balance of payments deficit amounted to EUR 2.97 billion in 2011, growing by 42.5 percent in nominal terms compared to the year before, according to a magazine issued by the Serbian Chamber of Commerce. The increase in current account deficit is primarily due to the increased foreign trade and income deficits. The magazine says that 2012 is in for a larger current account deficit due to the completion of the investment cycle in the export-oriented sectors and to increased imports. Net inflow of foreign direct investment in 2011 amounted to EUR 1.83 billion, more by about EUR 1 billion when compared to the year before. (ANSAmed).

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