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The Government of the Republic of Serbia

In the service of citizens

Serbia remains committed to implementing reforms

Belgrade/Jahorina, 3 May 2018

Prime Minister Ana Brnabic and Republika Srpska Prime Minister Zeljka Cvijanovic participated today at the central panel of the "Jahorina Economic Forum", where they discussed the reform processes and the importance of regional cooperation.

Prime Minister Brnabic said that the Serbian government has continued the programme of economic reforms initiated by the previous government and that it has achieved notable results in the reform of public finances and strengthening of economic growth.

She said that the success of the reforms were praised by the world's leading international institutions, adding that, according to the Financial Times, Serbia is in the first place of the global index of competitiveness in attracting foreign investments.

This trend continued this year: during January and February 2018, foreign direct investment reached €436.9 million, an increase of 21.8% compared to the same period last year, she explained.

Speaking about the results of fiscal consolidation and economic reforms in Serbia, she said the public debt was reduced to 57.9%, below the Maastricht level, while the unemployment rate was reduced from almost 26 percent to today's 13%, and unemployment among young people from almost 51% to around 33%.

The Serbian government remains committed to further improving the investment climate and continuing structural reforms, she stressed, adding that the European Commission's report to Serbia recognises the role of the champion of economic reforms in the region.

She pointed out that the goal of the government is to achieve a dynamic and sustainable economic growth based on innovation, investment and exports.

Brnabic stressed the importance of regional economic cooperation for further development and progress of the region.

The economic growth of the region cannot be based solely on attracting foreign investments, but it is necessary that the largest companies that already operate in this region be united in order to deal with global competition, she said.

Speaking about the economic cooperation between Serbia and BiH, the Prime Minister assessed that the further growth of the goods exchange will also contribute to the commitment of the two sides to removing all non-tariff barriers in trade between them.

Brnabic stressed that the region needs better infrastructure and energy connectivity, as these are prerequisites for development in other areas.

Particularly important for us are concrete concrete infrastructure projects that aim to better connect within the region. These are, above all, the so-called "Motorway of Peace" that will connect Nis and Durres and Belgrade-Sarajevo motorway via Pristina, Brnabic pointed out.

The Prime Minister assessed that one of the biggest challenges for the Western Balkan region is to create conditions for young people to stay in their own countries, as well as incentives to return those who have left.

She added that this is the key to the long-term prospect and development of the region.

Brnabic stressed that Serbia remains dedicated to implementing reforms aimed at improving the lives of all citizens, as well as the European perspective of the region.

Successful and developed regional cooperation significantly contributes to the strategic foreign policy goal of Serbia - membership in the EU, concluded the Serbian Prime Minister.

On the margins of the Jahorina Economic Forum, Serbian Prime Minister Ana Brnabic met with Republika Srpska President Milorad Dodik and Republika Srpska Prime Minister Zeljka Cvijanovic.