Serbian Fiscal Council chief warns of rising power prices

Speaking to N1 at the Kopaonik Business Forum, Fiscal Council President Pavle Petrovic said that the rise in electricity prices in 2022 followed by a rise in January this year and announced rise in May mean that those prices have risen 30 percent for households and 70 percent for companies.

Under Serbian law, the Fiscal Council is an independent state body accountable to parliament.

Petrovic said that the Serbian authorities are controlling power prices in an effort to control imported inflation, adding that inflation has been kept under control artificially which means that high prices should be expected this year. He said that target inflation levels will be harder to reach in Serbia than in other countries.