- Category: Economy
- Published on Wednesday, 13 November 2019 07:55
November 12, 2019
Belgrade daily Vecernje Novosti reported on Tuesday that the Serbian food processing industry has recorded a drop of up to 7.3 percent, making it a problem for the national economy.
The daily said that the meat industry has reported a drop in production following stable growth for the past 18 months. The meat industry recorded growth of 4-5 percent last year and in the first two quarters of 2019 but reported a drop of seven percent in August.
Economy experts said that the drop was caused by the 100 percent tariffs on Serbian goods imposed by the Kosovo authorities, low export prices, an outbreak of the swine flu and the fact that some companies have been banned from exporting to Russia.
Industrial production in Serbia rose 1.6 percent in September and the processing industry reported a rise of 1.7 percent, but the food industry’s bad results have halved the growth of the processing industry, the daily said quoting economy experts.