The Threat Of Bankruptcy That Isn’t…

Blic is running an article entitled “All indicators pointing at big crisis. Threat of bankruptcy over Serbia.” From the title, it’s pretty obvious what it’s about — but the article seems extremely one-sided. The article does just that: it assumes that Serbia is in recession, and only talks to one analyst, Vladimir Gligorov, an “expert” at the Vienna Institute for Economic Studies, who agree. Except, as we’ve seen repeatedly, there’s almost no evidence of Serbia being in recession. The article talks about ever increasing enterprises “faced with the threat of bankruptcy what means sacking of labor” despite the fact that folks who actually have the data have been noting that there are still no any significant changes in the labor market, even though the indications are that the employment rate will either stagnate or slightly drop. Then the article claims that getting foreign credits is difficult — even though when you talk to the actual economists at international organizations, they seem more than willing to admit that credits can be handled just fine with Serbia.

But, of course, instead of quoting those actual economists, the article focuses on the big analyst firms like the Vienna Institute for Economic Studies (WIIW) which are trying to sell research reports, and which make bigger headlines if they warn about Serbia’s impending problems. It’s a pretty weak report to simply assume away the actual evidence and then focus on what needs to be done based on the non-evidence.

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