KOSTIC: Serbia could speed up growth through printing money

(Miodrag Kostic) Serbia should follow the example of EU and USA and to try to speed up economic growth through money printing – owner of MK Grupa, Miodrag Kostic said.

-We cannot step out of the crisis in the faster way but to print money which is in fact the other word for quantitative relief which EU has been implementing now - Kostic said last night at the tribune "Kostic asks Montgomery - Montgomery asks Kostic", organized by business school Cotrugli business school.

- They do not even wait for me to explain them why I think that – Kostic says.

According to him, if money would be printed in Serbia, key question would be how to control where to spend it.

-If the money would be spent on pensions increase, it would be a disaster. But, if it is spent on agriculture, energy, renewable energy, i.e. if money would support domestic industry and investments, I do not think it would be a problem. On the contrary, it would help Serbian economy to grow more rapidly – he said.

Kostic outlined that so-called quantitative relief i.e. printing money was solution for USA, now EU has been implementing it, and wondered why then it would not be a solution for Serbia as well.