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The Government of the Republic of Serbia

In the service of citizens

Continued investment in capital projects in order to preserve economic growth

Belgrade, 24 January 2023

Prime Minister Ana Brnabic presided over the session of the Council for Coordination of Activities and Measures for the Growth of Gross Domestic Product (GDP), which was also attended by President of the Republic Aleksandar Vucic.

Bearing in mind the unfavourable indicators of the current energy and economic situation in the world, the domestic and global trends with projections of economic growth for the current year and possibilities for maintaining the country's financial stability were analysed.

At the meeting, it was said that good results were achieved in the fields of tourism, information technology and services, and that the measures taken to attract direct foreign investments in the previous year were a significant driver of the domestic economy and an additional incentive for creating new jobs.

Also, in the previous year, the service sector played the role of the dominant carrier of economic growth.

When it comes to agriculture, the importance of investing in additional protection measures against natural disasters, primarily radar systems for hail defense, irrigation systems, field electrification, was underlined.

Special emphasis was placed on additional incentives for animal husbandry, which in recent years has recorded a declining trend. The line ministry will also work on revising the criteria for participation in the IPARD program so that a greater number of registered farms can apply for these European funds for agriculture.

In order to preserve sustainable economic growth, the necessity of further investment in capital projects in the field of road and railway infrastructure, as well as efficient execution of the budget in the field of health, energy, environmental protection, sports and communal infrastructure, was stated.

One of the measures that the GDP Council will monitor during the year is the speed of issuing location conditions and building permits in order to release the full potential of private investments in Serbia.

It was concluded that further encouragement of dual education is extremely important, considering the needs of the domestic market and the fact that those who are educated according to this system find it easier to get a job and better paid jobs.