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Economic development strategy to prepare Serbian economy for EU
Belgrade,
12 December 2005
Serbian Minister of Economy Predrag Bubalo said today that both Serbia and its citizens need an overall economic development strategy because poverty, which is the essential problem in the Serbian economy, can only be solved by creating new jobs.
Author:
Fonet
Speaking at the Serbian Chamber of Economy, Bubalo said that this national development plan is currently under way, and as of 2006 and until 2012, it should be preparing the Serbian economy for a more equal participation in the European market.
He pointed to the necessity of preparing a long-term economic development strategy due to the Serbian economy's low starting point in comparison to other countries in the region and the EU, adding that the ministry's most important task will be the implementation of this strategy in 2006.
According to Bubalo, this extremely low starting point is further hampered by the fact that Serbia still has not completed the transition process, especially when it comes to privatisation and restructuring of public companies.
He recalled that 75 percent of companies have been privatised so far, adding that by late 2007 the privatisation process should be completed, whereas the restructuring is expected to take longer.
He stressed that Serbia must by all means adopt an economic development strategy to prevent further lagging behind of its economic development, non-competitiveness and the increase of unemployment.
He pointed to the necessity of preparing a long-term economic development strategy due to the Serbian economy's low starting point in comparison to other countries in the region and the EU, adding that the ministry's most important task will be the implementation of this strategy in 2006.
According to Bubalo, this extremely low starting point is further hampered by the fact that Serbia still has not completed the transition process, especially when it comes to privatisation and restructuring of public companies.
He recalled that 75 percent of companies have been privatised so far, adding that by late 2007 the privatisation process should be completed, whereas the restructuring is expected to take longer.
He stressed that Serbia must by all means adopt an economic development strategy to prevent further lagging behind of its economic development, non-competitiveness and the increase of unemployment.
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