NBS buys nine tons of gold on international market for the first time

The governor of the National Bank of Serbia (NBS), Jorgovanka Tabakovic, has stated that, in October, the central bank bought nine tons of gold for the first time on the international market.

- Serbia can boast a diversification of FX reserves with the best quality assets - Tabakovic said at the presentation of the monthly inflation report.

She pointed out that the gross FX reserves of the NBS had exceeded EUR 14 billion.

The bought gold, as she said, is kept in a safe place, at the Swiss central bank, as a defense from any sort of risk in the international environment.

- The new projection of the NBS is that the growth of Serbia’s GDP will be 3.6% this year, instead of the previously projected 3.5%, and it’s even possible that the growth will be bigger - Tabakovic said.

She added that the inflation in Serbia remained low and stable and that it was expected to remain so in the next period.

Narodna banka Srbije Beograd

National Bank of Serbia

BNS

Swiss central bank

Jorgovanka Tabakovic

FX reserves

gold

purchase of gold

gold bars

gross domestic product

GDP growth

inflation