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The Government of the Republic of Serbia

In the service of citizens

Serbia's economic success depends on macroeconomic stability

Belgrade, 11 January 2007

Serbian Minister of International Economic Relations Milan Parivodic said today that Serbia's economic success in the next period will largely depend on systemic, political and macro economic stability.

Speaking at a Foreign Investors Council meeting, Parivodic said that Serbia's economic growth will depend on the quality of infrastructure, a competitive tax system, predictability of the state's attitude towards investors, opening of the Serbian market, and the size of the market as well.

Another important thing is also to abolish market monopolies, remove obstacles to free flow of goods and make the reform of property relations.

According to Loncar, the Serbian economy could be effective if 75%-80% of property was private owned.

Parivodic said that in the previous period Serbia has been fairly successful which can be seen from recognitions it obtained from the World Bank and the European Bank for Reconstruction and Development.

Chairman of the Council of Foreign Investors in Serbia Budimir Kostic said that it is necessary to attract between €2 billion to €3 billion in direct investments per year in order to maintain macro economic stability and secure economic development.

He said that this year for the first time, the Council will publish a "Green book" on opportunities for greenfield investments on the Serbian market, aiming to demonstrate that Serbia is the right place to invest in.