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The Government of the Republic of Serbia

In the service of citizens

Serbia needs innovation-based economy

Kopaonik, 7 March 2018

Prime Minister Ana Brnabic said today at the closing ceremony of the Kopaonik Business Forum that for Serbia it is no longer enough just to be an investment-dependent economy, but needs an economy based on innovation and announced a faster economic growth of the country.

Brnabic said that the government will continue the reforms that have been initiated and will accelerate economic growth, saying that no event like the Kopaonik Business Forum hit the essence of what comes after fiscal consolidation.

Outstanding results have been achieved thanks to fiscal consolidation measures initiated by the previous government, she said.

According to her, the previous year ended with a surplus, a public debt was reduced, a three-year arrangement with the IMF was successfully completed, the exchange rate is stable, inflation is within the planned framework and the unemployment rate is dropping.

The Prime Minister said that last year Serbia had €2.6 billion of direct foreign investments and, therefore, is a leader in the Western Balkan region.

She recalled that the World Bank declared Serbia a leader in the implementation of the reforms in South East Europe, and that the Financial Times declared our country a leader in the index of direct investment efficiency, and credit agencies improved Serbia's rating in December 2017.

All these results have also enabled the increase in salaries and pensions, Brnabic added, and this is the basis on which the Serbian government is starting this year.