Source: Tanjug | Friday, 05.10.2018.| 09:37
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TABAKOVIC: Non-performing loans reduced to 6.5%

Jorgovanka Tabakovic
Jorgovanka Tabakovic (Photo: YouTube/screenshot)
The governor of the National Bank of Serbia, Jorgovanka Tabakovic, stated yesterday that the share of non-performing loans in the total number of loans approved in Serbia amounted to only 6.5% in August, which is a considerable reduction.

– Their level is down by 16 percentage points compared to when we started implementing the strategy for resolving NPLs with the support of the IMF Mission – Tabakovic said at the joint press conference with Finance Minister Sinisa Mali and representative of the IMF team.

Illustrating the good coordination and cooperation of the Governemnt and the NBS, that is, the coordination of monetary and fiscal policies, Tabakovic emphasized that, four years before, it hadn’t appeared very likely that Serbia would have ten-year dinar-denominated securities.

– Today, the portfolio of dinar-denominated securities features over 60% of securities with a period of over five years. This means that investors believe in the future and a sustainable growth of Serbia and that they therefore invest in long-term securities – she said.

Four years ago, when the securities were first offered, the interest rate amounted to 14%, whereas now it’s 4.8%, which, as the governor emphasizes, shows how much trust the investors in Serbia have.

According to her, macroeconomic stability has been achieved, the inflation is low, price stability has been achieved, and, as she says, “it is up to us” to maintain this result. Tabakovic added that, compared to four years before, there were 200,000 more employees in the private sector.

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