NBS: 2013 sees the lowest inflation rate in the last 50 years

During 2013, Serbia saw the lowest inflation in the last 50 years, the exchange rate was stable and foreign currency reserves increased by EUR 180 m, it was announced yesterday from the National Bank of Serbia.

- We think it is our duty to achieve our legal commitment, i.e. to provide monetary and financial stability in our country which we succeed in 2013 - NBS stated.

As they explained, financial result does not represent tax burden for tax payers in Serbia so current results justify costs.

The National Bank of Serbia reminded that by August 2012, the bank did not ‘pay a single dinar of interest rate to budget assets although it was obliged to do it on monthly basis” to the Government of Serbia.

NBS claims the statements that the only time when NBS generated loss was in 2013 is not true since results from 2006 so far proved the loss was generated in 2006 and 2007.

- Not even today NBS is a lonely case since general economic circumstances are difficult everywhere. Namely, the bank of Switzerland in 2013 generated net loss of some USD 10,4 billion compared to the loss of six billion francs a year ago i.e. 2012. The Swiss central bank, due to loss, halted dividend delivery, as well as payments to governmental budget – it was stated in the announcement.