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The Government of the Republic of Serbia

In the service of citizens

Serbian economy shows resilience in difficult times

Belgrade, 15 November 2021

Prime Minister Ana Brnabic stated today that the Serbian economy has shown exceptional toughness and resilience under the difficult conditions of the coronavirus pandemic in 2020 and 2021 and underlined that this is a joint result of the economy, businessmen and the state.

Speaking at the presentation of the White Book of the Foreign Investors Council (FIC), Brnabic said that her impression is that despite the pandemic, the best way for the cooperation of the state with the FCI has been found.

We managed to find a way to prevent the downfall of the economy and ensure its growth, but also to find a balance between the nation’s health, protection of the health system and of the economy, she underlined.

According to her, we have managed to achieve progress that is weaker than that from 2019, but much better than many years before.

She underlined that from 2022 Serbia will go back to investment-based economic growth, noting that the 2022 Budget Bill, which will be presented in the Serbian parliament on 23 November, proposes setting aside RSD 486 billion for capital investments.

Speaking about the assessments from the White Book, the Prime Minister said that the best result was achieved in the field of digitalisation and e-commerce and added that this is precisely the focus of the Serbian government as it wants to build an economy based on knowledge and innovation.

According to her, digitalisation will also ensure a more efficient public administration and contribute to the fight against corruption, but also to a faster economic growth.

She presented the data that the IC sector remains the greatest exporter this year too and that net exports of this sector will exceed €1 billion this year for the first time, noting that this shows how much we progressed in this field.

The Prime Minister said that the poorest result from the White Book are the labour law regulations and added that this is a complex matter, on which the state will work with companies and trade unions.

The Prime Minister proposed that this be one of the first topics of the next session of Socio-Economic Council.

Brnabic added that the two crucial challenges for the business environment are the lack of manpower and energy supply.