Kopaonik Business Forum: Serbia needs stronger economic growthAdriatic Journal 4 March 2019
Serbian prime minister Ana Branbić yesterday opened Kopaonik Business Forum , saying that though Serbia recorded a 4.3% growth last year, which is the highest in the last ten years and among the highest in Europe, it is still not enough for Serbia to catch up with EU members in the near future.
At the time when the world economy is slowing down, growth in the Western Balkans region reached the projected level of 3.5% in the past period, due primarily to the acceleration of economic activity in Serbia. In order to continue this positive trend in the coming years, a stronger growth of the Serbian economy and more investments are needed, said at the conference Aleksandar Vlahović, the President of the Association of Economists of Serbia.
He added that as a result of macroeconomic stability, the budget surplus, and good fiscal trends, the public debt in Serbia was reduced, amounting to about 54% of GDP at the end of last year. Public finances have significantly improved since 2008, banks are subjected to better regulations and employment is at a pre-crisis level, Vlahović continued.
The major challenge for Serbian economy currently is high level of youth unemployment and unfavourable demographic projections, he warned.
This year’s 26th Kopaonik Business Forum is held until March 6 with more than 1,300 participants expected to take part. The main theme of the forum is “Serbia ten years after the global recession: strong growth is imperative”.