National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic said on Wednesday that the central bank is protecting the public from inflation but can’t work magic on fuel prices affected by the war in Ukraine.
“We are protecting the public from imported inflation through the exchange rate to prevent it spilling over onto domestic prices,” she told a presentation of a report on protecting financial services clients. “We are keeping the exchange rate relatively stable,” she said.
“I would like to be able to keep you from worrying about the conflict in Ukraine but there isn’t any country in the world that can do that including Serbia and stronger economies than ours,” she said.
Tabakovic said that the NBS secured more than 1.5 billion Euro in hard currency for gas, electricity and oil imports and added that demand for hard currency has stabilized in exchange offices. She said that the NBS would continue inspecting exchange offices.