Dacic has been trying to boost the economy, which has fallen into recession twice in the past three years, leaving a quarter of the nations workforce without jobs. The budget deficit is expected to top at least 6 percent of gross domestic product this year, down from 7.3 percent in 2012. The current-account deficit will reach 8.7 percent of GDP according to IMF forecasts. Monetary policy makers are balancing the need to shore up Serbia s $37 billion economy against fighting inflation and shielding the dinar from market turmoil.
Serbian finance minister cedes economy brief, averts risk of snap poll
At the AshokaU Exchange in February 2013, we met Ted Levinson, Director of Lending atRSF Social Finance, and convinced him to give us the opportunity to gain experience in this innovative field. Impressed by our enthusiasm and commitment, he put us in touch with a nonprofit that benefited from impact investments: DC Central Kitchen. DC Central Kitchen is a Washington, D.C.-based nonprofit that provides culinary training to at-risk individuals using local recycled food in order to provide healthy school lunches for grade school students. Due to their staggering growth, they requested a loan from RSF to help them invest in better equipment. RSF gave us the responsibility to perform financial analysis and draft a credit memo for evaluation.
How Finance Fueled Students’ And Nonprofit’s Future
He has slowed the rate of increase of Serbia’s budget deficit and public debt, which had ballooned to all but scuppered hopes of a new precautionary loan from the International Monetary Fund. Dacic’s Socialists and the nationalist Progressive Party (SNS), the two biggest parties in the alliance, had already agreed to reshuffle their ministers. Dinkic’s United Regions of Serbia party (URS) is polling just 5 percent among voters. Weeks of fraught negotiations over the reshuffle had raised the risk of a snap election that would almost certainly have delayed the start of EU membership talks scheduled for January.