SERBIA - Output contraction slowed down in the second quarter of 2012 (October31, 2012) | Eurobank
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SERBIA - Output contraction slowed down in the second quarter of 2012 (October31, 2012)

• GDP contraction slowed down to -0.8% yoy in Q2-2012 compared to -2.5% yoy in Q1-2012 driven by improved manufacturing and retail trade sectors performance
• The government tapped successfully international markets in early October
• The NBS hiked interest rates by 25bps to 10.75% for the fourth time since June 2012
• EU Commission decided to postpone the date of Serbia’s EU accession negotiations on insufficient progress on the Kosovo issue