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The Government of the Republic of Serbia

In the service of citizens

Great importance of implementation of reforms for economic growth

Belgrade, 5 November 2021

Prime Minister Ana Brnabic voiced expectation today, at a regular plenary session of the National Convention on the European Union, that, despite the challenges due to the coronavirus pandemic and energy crisis, Serbia's economic growth and progress will continue.

Brnabic pointed out that the reforms, primarily in the area of the rule of law, as well as in the area of environmental protection and energy transition to a green circular economy, will be something that will additionally affect economic development.

Commenting on the economic criteria in the Report of the European Commission on the progress of Serbia in reforms and their assessments, the Prime Minister stated that it is already common for that part of the Report to be the most positive.

This is natural, because we have pretty good results in the field of the economy, she pointed out and recalled that the fall in GDP in 2020 was 0.9 percent, and that this year the GDP growth will be at least seven percent.

Brnabic announced that monthly salaries will exceed the amount of €600 by the end of the year, which will confirm the leadership in the region of the Western Balkans, expressing the expectation that our country will overtake one EU member state in terms of average salaries.

She pointed out that the economic and fiscal policy for 2022 will be focused on youth employment and noted that youth unemployment currently stands at approximately 20 percent.

When you look at the investments that are now coming to our country, as well as the way in which the local economy is being transformed, you can see that the increasing volume of investments is monetary, but with less labour, the Prime Minister stated.

The Prime Minister explained that this means that these investors are more technologically advanced, and that we are less and less recognised as a country of cheap labour.

Speaking about the dialogue that the Serbian government has had with the National Convention, she pointed out that it is certainly one of the reasons for a positive or, certainly, much more positive European Commission Progress Report.

The European Commission has recognised the intention of the Serbian government to strengthen communication with civil society organisations, to work more focused on reforms in the field of the rule of law and to do so in a transparent manner, the Prime Minister concluded.