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10. December 2002 - Tuesday |
Yugoslavia's trade deficit accounts for 20 percent of GNP - Madzar
BELGRADE - Yugoslavia's foreign trade deficit accounts for more than 20 percent of the country's GNP, which hampers future economic development, head of the Yugoslav Economists Society Ljubomir Madzar said on Tuesday.
Speaking at a news conference dedicated to the holding of a symposium of economists, businessmen and bankers on current business trends and economic policy options for 2003, Madzar said that significant results had been achieved in 2002 in achieving macroeconomic balance in the country - the inflation rate, prices and costs of living stopped growing - and there were no results in the area of foreign trade balance, which is indicated by an extremely high deficit in the country's payment operations and trade.
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