Zoran Petrovic, Deputy Chairman of the Managing Board, Raiffeisen banka a.d. He is currently responsible for Treasury and Investment Banking, Asset Management and Leasing.

1. Economic environment - fundamentals and challenges Rotary Club 2011 Zoran Petrović Deputy Chairman Board of Management Raiffeisen banka

3. Global Stability Map Global Economic environment Source: Global Financial Stability Report, IMF October 2010 Note: Away from center signies higher risks, easier monetary and fi nancial conditions, or higher risk appetite

4. Global Imbalances Global Economic environment Source: IMF estimates, WEO, IMF January 2011 CHN+EMA: China, Hong Kong SAR, Indonesia, Korea, Malaysia, Philippines, Singapore, Taiwan Province of China, and Thailand; DEU+JPN: Germany and Japan; OCADC: Bulgaria, Croatia, Czech Republic, Estonia, Greece, Hungary, Ireland, Latvia, Lithuania, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Turkey, and United Kingdom; OIL: Oil exporters; ROW: rest of the world; US: United States C/A in % of GDP

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