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The Government of the Republic of Serbia

In the service of citizens

Serbia's economic progress beyond any doubt

Belgrade, 13 December 2006

Serbian Prime Minister Vojislav Kostunica stated today that facts firmly testify that Serbia has made unquestionable economic progress this year which was also confirmed by the European Bank for Reconstruction and Development (EBRD) which in its report said the same as for 2005 – that in Southeast Europe Serbia is the leading country in reform implementation process.

Vojislav Kostunica

Author: Fonet

In a statement to the FoNet news agency, Kostunica stressed that last year EBRD started from several important indicators, namely the economic growth rate of 6.5% in 2006 and huge investments of $4 billion made not only by foreign but also by domestic companies.

"Apart from the opinion stated by the EBRD, I would also like to recall that this November the European Commission stated that when it comes to reforms and institutional stability, Serbia is striding towards the EU", said Kostunica.

He also added he was informed today that Serbian Minister of Economy Predrag Bubalo and Russian Minister of Emergency and Calamity Relief Sergei Shoigu have signed the agreement on the clearing debt between Serbia and Russia.

Kostunica announced that on December 20 a memorandum concerning the Russian gas pipeline through Serbia will be signed and the Free Trade Agreement, which has been applied in practice for 10 years but not ratified, will finally be ratified by the Russian Duma.

"I would especially like to stress the fact that through its Fund for Young Talents, Serbia stimulated a number of final year students by granting them stipends on condition that after they graduate they spend five years working in Serbia", said Kostunica. He also added that this is good news because these young people can now see their future in Serbia, while on the other hand increasingly good news on other Serbian youths wishing to come back to their homeland has been arriving a lot of late.

The Prime Minister concluded that with such good news the New Year will be quite welcome, adding his hopes that there will be even more such news next year.