1.Semiannual Monetary Policy Report (January-June 2022), submitted by the National Bank of Serbia;

2.2022 Annual Monetary Policy Report, submitted by the National Bank of Serbia, Annual Report on business transactions and results achieved in 2022 and Financial System Stability 2022 Annual Report , submitted by the National Bank of Serbia;

3.National Bank of Serbia Governor’s Council Activity Report for the period 1 January - 30 June 2022, submitted by the National Bank of Serbia Governor’s Council;

4.National Bank of Serbia Governor’s Council Activity Report for the period 1 July - 31 December 2022, submitted by the National Bank of Serbia Governor’s Council;

5.National Bank of Serbia 2022 Financial Reports accompanied by the authorized auditor’s report, submitted by the National Bank of Serbia Governor’s Council;

6.National Bank of Serbia 2023 Monetary Policy Programme, submitted by the National Bank of Serbia;

7.National Bank of Serbia 2023 Financial Plan, submitted by the National Bank of Serbia.

The Governor of the National Bank of Serbia Jorgovanka Tabakovic spoke about the items on the agenda, stressing that all of the National Bank’s results are measurable and verifiable, through the reports submitted to the National Assembly. She said that these results confirm that the National Bank has conducted monetary policy and supervised the work of financial institutions in the country responsibly, as well as managed the country's foreign exchange reserves, adding that the National Bank is a reliable partner to the Government in the implementation of the overall economic policy.

Tabakovic said that since December last year, inflation has followed the predictions of the National Bank, reaching its maximum in the first quarter of the current year - around 16%, and has since then been on a downward trajectory. According to the latest information inflation stands at 13.7% and the National Bank predicts that it should drop to around 8% by the end of the year. The restrictive monetary policy of the National Bank of Serbia and the European Central Bank, as well as the reduction in imported inflation related to the normalisation of world prices of energy, food, metals and raw materials, will affect a reduction in inflation.

There is a noticeable reduction in agriculture and industrial production costs, which will have a favourable impact on the prices of wheat, corn and industrial plants, soybeans, sunflowers, sugar and canola. The normalisation of international transport is also noticeable.

The Governor said that the domestic fiscal policy is restrictive, which is confirmed by the fact that since the beginning of the year there has been a surplus in the republic's budget. The decrease in domestic demand for food, non-food products and motor fuels also works to reduce inflation. On the other hand, Tabakovic stated that the factors that continue to act in the direction of inflation increase are trade chain margins and individual food processors which experienced a high increase in costs. In 2022, Serbia consciously took on the biggest costs of the energy crisis and any potential future increases will not affect high inflation rates, said Tabakovic.

Tabakovic went on to speak about bank reference interest rates and their potential increase, direct foreign investments, export growth, current trade deficit and the increase in the state's foreign exchange reserves.

Following a discussion, the Committee on Finance, State Budget and Control of Public Spending adopted all seven of the items on its agenda.

The sitting was chaired by Committee Chairman Veroljub Arsic and attended by the following Committee members and deputy members: Bratimir Vasiljevic, Vojislav Vujic, Miroslav Kondic, Dalibor Jekic, Rozalia Okresz, Dr Aleksandra Tomic, Dragan Jovanovic, Miodrag Gavrilovic, Zoran Stojanovic, Tijana Davidovac and Dragan M. Markovic.