Here are five significant economic/business events to pay attention to in the week ahead of us:
- Belgrade Energy Forum on May 8 and 9
The Belgrade Energy Forum 2023 (BEF 2023) regional conference will be held at the Crowne Plaza Hotel on May 8 and 9, with around 400 participants from Serbia, Southeast Europe and the European Union. The event will bring together regulators, power companies, leading investors in the energy sector, financial institutions, consulting companies and law offices, technology manufacturers, companies for innovative services and digital solutions in energy, academia and non-governmental organizations.
The participants of BEF 2023 will discuss the most important energy challenges of the region, including how to successfully implement the energy transition to a low-carbon economy in accordance with the principles of the Green Agenda, how to decarbonize the energy sector, and other sectors as well. The conference participants will also discuss how to create infrastructure, technologies and capital for new low-carbon and green capacities and through mutual cooperation between the countries of the region and the world to ensure energy security and safety.
- National Bank to discuss raising the benchmark interest rate
The National Bank of Serbia will decide on its latest monetary policy in the upcoming period at the session of its Executive Board on Thursday, May 11. Economists expect that the reference interest rate will continue to rise, considering the inflation level and trends in our country, but the increase could slow down, taking into account the latest decisions of the US Federal Reserve and the European Central Bank.
- Bank of England continues to battle inflation
The Bank of England will consider another benchmark interest rate increase on Thursday, likely by a further 25 basis points, as it continues its fight against inflation. Price growth in Great Britain reached 10.1 percent, which is significantly higher than in the Eurozone, and inflation is fueled by rising food costs and labour shortages linked to Brexit.
- The recovery of the Chinese economy
China will publish detailed economic data this week, providing further insight into the recovery of the world’s second-largest economy after the coronavirus pandemic. April trade data is due on Tuesday and is expected to show a slowdown in exports after the March increase. Inflation data is due on Thursday and analysts believe it will show that price pressures are easing.
- New statistical data for Serbia
The Serbian State Statistics Office will publish this week the price indices of industrial product manufacturers for April, price indices for the catering industry and consumer price indices. Data on construction activity in the first quarter of 2023 will also be released.
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