Tabakovic: FDI inflow to Serbia totalled 4.46 bln euros at end-November

BELGRADE - FDI inflow to Serbia continued to rise in 2024, totalling 4.46 bln euros at end-November, National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic said at the opening of the 2nd Banking Summit in Belgrade on Thursday.

Serbia has preserved financial stability, economic growth and the stability of the dinar's exchange rate against the euro, Tabakovic said, noting that the NBS would continue to work in the general interest and that that there was no alternative to that stability.

"Inflation entered our target band of 3+/-1.5 pp in May, has remained there ever since and will stay there going forward. The inflation profile allowed us to start easing our monetary policy in June, but at a cautious pace. Since then, we have cut the key policy rate three times – each time by 25 bp, to 5.75 pct," she said.

"Our FX reserves amounted to a record 28.3 bln euros at end-October, which is an additional increase of 13.6 pct during this year," Tabakovic also said, noting that dinar savings were record-high, increasing by over 80 pct since the beginning of last year and reaching 180 bln dinars, which she added was "ten times higher than in 2012."

She also noted the share of NPLs had shrunk to 2.7 pct in August and to 1.46 pct when it comes to housing loans.

(1 euro = 116.9 dinars)