Serbia, Montenegro and Kosovo Business Forecast Report Q4 2012

Executive Summary – Serbia
Core Views
Major Forecast Changes
Key Risks To Outlook

Chapter 1 1: Political Outlook – Serbia
SWOT Analysis
BMI Political Risk Ratings
Domestic Politics
EU Accession On Track Despite New Government
Long-Term Political Outlook
Unresolved Tensions To Weigh On Risk Profile

Chapter 1 2: Economic Outlook – Serbia
SWOT Analysis
BMI Economic Risk Ratings
Economic Activity
TABLE: SERBIA – GDP BY EXPENDITURE, REAL GROWTH
Fiscal Policy
TABLE: SERBIA – FISCAL POLICY
Monetary Policy
TABLE: SERBIA – MONETARY POLICY
Balance Of Payments
TABLE: SERBIA – CURRENT ACCOUNT

Chapter 1 3: 10-Year Forecast – Serbia
The Serbian Economy To 2021
TABLE: SERBIA – LONG-TERM MACROECONOMIC FORECASTS

Chapter 1 4: Business Environment – Serbia
SWOT Analysis
BMI Business Environment Risk Ratings
Business Environment Outlook
Institutions
Infrastructure
Market Orientation
Operational Risk

Chapter 1 5: Key Sectors – Serbia
Pharmaceuticals
Telecommunications
Other Key Sectors
Executive Summary – Montenegro
Core Views
Major Forecast Changes
Key Risks To Outlook

Chapter 2 1: Political Outlook – Montenegro
SWOT Analysis
BMI Political Risk Ratings
Domestic Politics
Long-Term Political Outlook
TABLE: MONTENEGRO – POLITICAL OVERVIEW

Chapter 2 2: Economic Outlook – Montenegro
SWOT Analysis
BMI Economic Risk Ratings
Economic Activity
TABLE: MONTENEGRO – ECONOMIC ACTIVITY

Chapter 2 3: 10-Year Forecast – Montenegro
The Montenegrin Economy To 2021
TABLE: MONTENEGRO – LONG-TERM MACROECONOMIC FORECASTS

Chapter 2 4: Business Environment – Montenegro
SWOT Analysis
BMI Business Environment Risk Ratings
Institutions
Infrastructure
Market Orientation
Operational Risk
Executive Summary – Kosovo
Core Views
Major Forecast Changes
Key Risks To Outlook

Chapter 3 1: Political Outlook – Kosovo
SWOT Analysis
BMI Political Risk Ratings
Domestic Politics
Long-Term Political Outlook
TABLE: KOSOVO – POLITICAL OVERVIEW

Chapter 3 2: Economic Outlook – Kosovo
SWOT Analysis
BMI Economic Risk Ratings
Economic Activity
TABLE: KOSOVO – ECONOMIC ACTIVITY

Chapter 3 3: 10-Year Forecast – Kosovo
The Kosovan Economy To 2021
TABLE: KOSOVO – LONG-TERM MACROECONOMIC FORECASTS

Chapter 4: BMI Global Assumptions
TABLE: GLOBAL ASSUMPTIONS
TABLE: DEVELOPED STATES REAL GDP GROWTH FORECAST
TABLE: REAL GDP GROWTH CONSENSUS FORECASTS
TABLE: EMERGING MARKETS REAL GDP GROWTH FORECAST 85