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EIU Serbia and Montenegro

Overview

Serbia's government—comprising the Democratic Party (DS), the Democratic Party of Serbia (DSS) and its ally New Serbia (NS), and the G17 Plus—suffers from sharp internal divisions. It is being held together by fears that another election would result in further gains for the extreme nationalist Serbian Radical Party (SRS). The government completed technical negotiations towards an EU stabilisation and association agreement (SAA) in early September, but full co-operation with the International Criminal Tribunal for former Yugoslavia (ICTY) in The Hague is a precondition for signing the SAA, and relations with the EU could also be derailed by the Kosovo status issue. Annual real GDP growth is forecast to average more than 5.5% in 2008-09, after estimated growth of 7% in 2007. Retail price inflation is expected to drop to 5.4% by end-2009. The annual current-account deficit is forecast to average almost 12% in 2008-09.

Key Reports Available for Serbia and Montenegro
  • Country Report
  • Country Profile
  • Country Risk Service
  • Basic Data

    Total area
    88,361 sq km (including Kosovo)
    Population
    7.5m (2002 census, excluding Kosovo); 9.5m (Economist Intelligence Unit estimate, including Kosovo)
    Main cities
    Population in '000 (2002)
    Belgrade (capital): 1,576(a) Kragujevac: 176(a)
    Novi Sad(b): 299(a) Pristina(c): 108
    Nis: 251(a)
    (a) Figures from the 2002 census in Serbia. (b) Capital of Vojvodina. (c) Capital of Kosovo. (This figure is from the 1981 census. Most of the Kosovo Albanians did not participate in the 1991 and 2002 censuses.)
    Climate
    Continental
    Weather in Belgrade (altitude 132 metres)
    Hottest month, July, 17-28°C (average daily minimum and maximum); coldest month, January, -3°C (average); driest months, February and March, 46 mm average rainfall; wettest month, June, 96 mm average rainfall
    Languages
    Serbian, Albanian (in Kosovo) and Hungarian (in Vojvodina)
    Weights and measures
    Metric system; a "wagon" of 10 tonnes is often used in trade figures
    Currency
    Serbian dinar (RSD)=100 paras. Average exchange rates in 2007: RSD58.2:US$1; RSD79.6:€1. Exchange rates on September 12th 2008: RSD54.7:US$1, RSD76.5:€1.
    Time
    1 hour ahead of GMT
    Fiscal year
    Calendar year
    Public holidays
    January 1st-2nd (New Year); January 7th (Orthodox Christmas); February 15th (National Day of Serbia); Orthodox Easter (April 25th and 28th in 2008); May 1st-2nd (Labour Day)
    SOURCE: Country Profile


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