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The Government of the Republic of Serbia

In the service of citizens

Serbia financially stable country

Belgrade, 25 October 2015

Prime Minister Aleksandar Vucic said today that the Serbian government has managed to maintain political stability, stop the economic decline, implement a plan to overcome the crisis and maintain good relations in the region.

Vucic said at a press conference that our country has managed to maintain stability despite the events in the region, and that it is now a financially stable and serious country, one of the most respected in Southeastern Europe.

He expressed satisfaction with the results of all four objectives that were set at the beginning of the term – political stability, halting economic decline and preventing bankruptcy, creation and implementation of a plan for overcoming the crisis and good regional cooperation.

The Prime Minister said that although the projected deficit approved by the International Monetary Fund (IMF) for this year was 5.5%, the state deficit has been reduced to 3.3%, with the expectation that it will be below 3%.

Vucic also pointed out that he is not happy with the pace of structural reform of public enterprises and rationalisation of public administration, and added that he expects that there will be new demands of the IMF in this regard.

Vucic expressed his conviction that the privatisation of seven companies will be completed by early next year, and that certain companies that are significant growth drivers, like MSK in Kikinda, must be activated.

He also said that he expects Serbia to advance significantly on the world business list, and remarked that he will not be satisfied unless Serbia is among the first 30 or 40 states.

He said that this shows that our country is on a good and safe way, and added that this year will be the first in decades with no budget revision.

Vucic said that the GDP growth in 2015 will be between 0.7% to 1%, and expressed his belief that in 2016 growth will go over 2%.

According to Vucic, the current problem of Serbia is the "old debt" made by public company "Srbijagas" to Russia in the amount of €303 million, as well as the debt to military pensioners of €160 million.

Speaking of the current migrant crisis, he said that our country will not raise any walls in front of the refugees, and confirmed that this attitude will not change. The Prime Minister in this regard expressed the hope that a comprehensive solution for the migrant crisis will be found.

First Deputy Prime Minister and Foreign Minister Ivica Dacic said that in the battle against Kosovo's admission to UNESCO truth and international legal order are on the side of Serbia, but that it does not guarantee success.

Dacic pointed out that our country continues to struggle for the so-called state of Kosovo be admitted in UNESCO.