Brnabic: Serbia is now in a much better situation than 10 years ago
“Serbia is now in a much better situation than 10 years ago,” said Prime Minister Ana Brnabic at today’s official opening of the Kopaonik Business Forum.
Nevertheless, she said that the current economic growth was not sufficient for Serbia to reach the standard of developed EU countries as soon as possible, the standard it strove for.
“We must continue to determinedly change things to make the growth higher and sustainable,” Brnabic said.
According to her, the fastest growing sector in Serbia is information technology (IT) whose annual growth in 2018 was 26 percent, and in 2017 it was 22 percent, while the export of this industry in the past year was about 1.14 billion euros.
The Prime Minister also pointed out that Serbia, during and after the economic crisis, ten years ago, experienced economic collapse, which could have been avoided by more responsible economic policy and the avoidance of populism. The Prime Minister pointed out that the results after 2008 were devastating.
The Prime Minister believes that the government achieved macroeconomic stability in the last four years. She also recalled that 2018 ended with a surplus of 32.2 billion dinars and a decline in public debt to about 50 percent of GDP.
She also said that public debt was above 70 percent of GDP and that currently it was about 50 percent, and the government’s goal, as she said, was to reduce it to the so-called “safe zone” of 45 percent of GDP.
She added that the increase in investments had brought more jobs, which resulted in unemployment in the fourth quarter of 2018 being 12.9 percent. “I believe that 2019 is the year when unemployment in Serbia will finally be one-digit,” Brnabic said.