Latest economic news – Serbia and Azerbaijan strike a gas deal

A day after the United States government’s report showed that inflation has slowed down, data were also released showing producer prices in this country recording the largest drop since April 2020. In Serbia, the central bank raised its projection of economic growth while the number of building permits issued in the country increased. Furthermore, the Serbian government signed an agreement with the Azeri government on natural gas deliveries next year.

  1. NBS raises its economic growth projection – The gross domestic product will grow by about 2.5 percent this year, said Jorgovanka Tabaković, governor of the National Bank of Serbia, during the presentation of the quarterly inflation report. In contrast to these data, the central bank of Serbia in August predicted growth of between two and three percent, warning that the growth will be closer to the lower limit. The first reason for better growth projection is a slightly better agricultural season than the one NBS expected. The second reason is somewhat higher industrial production, and the third is the faster growth of the construction sector, probably due to the faster implementation of the infrastructure projects in the country.
  2. More building permits issued – The State Statistics Office (RZS) said that 3,113 building permits were issued in September 2023, which is an increase of 7.9 percent compared to the same period last year. Out of the total number of permits issued in September 2023, 85.4 percent were related to buildings and 14.6 percent to civil engineering facilities.
  3. Gas from Azerbaijan – Serbian Mining and Energy Minister Dubravka Djedovic Handanovic signed on Wednesday in Baku a Memorandum of Understanding with the Azeri energy ministry. The MoU stipulates Azerbaijan delivering up to 400 million cubic metres of natural gas by the end of next year, once the gas interconnection in Bulgaria is completed.

 (Bloomberg Adria, 16.11.2023)



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