Q:
A:
Fresh foreign investments priority for Serbia
Belgrade,
10 December 2008
Deputy Prime Minister for EU Integration Bozidar Djelic stated that drawing fresh foreign investment is a priority for Serbia, as they would increase the country’s exports.
Joseph Stiglitz and Bozidar Djelic
Author:
Tanjug
Djelic said that Serbia, after being affected by the world economic crisis, now needs stability.
The country will have to adjust its public finances to the crisis, he stressed, noting that the decisions to increase pensions and to make a deal with Fiat were made at the time when there were no signs of the crisis.
He added that spending must be reduced by 2% of GDP.
As Serbia’s debts, amounting to 23% of its GDP, are not unbearable, the country can ask for additional loans of €2 billion to €3 billion in the next two to three years, he said.
Professor at Columbia University and the 2001 Noble prize winner for economics Joseph Stiglitz said that the region will be affected by the world crisis and warned that those countries that are over-indebted and those with a higher deficit will be affected more, as they will have to pay higher interest.
The lecture was held as part of the 10th anniversary of insurance company Delta Generali Osiguranje.
The country will have to adjust its public finances to the crisis, he stressed, noting that the decisions to increase pensions and to make a deal with Fiat were made at the time when there were no signs of the crisis.
He added that spending must be reduced by 2% of GDP.
As Serbia’s debts, amounting to 23% of its GDP, are not unbearable, the country can ask for additional loans of €2 billion to €3 billion in the next two to three years, he said.
Professor at Columbia University and the 2001 Noble prize winner for economics Joseph Stiglitz said that the region will be affected by the world crisis and warned that those countries that are over-indebted and those with a higher deficit will be affected more, as they will have to pay higher interest.
The lecture was held as part of the 10th anniversary of insurance company Delta Generali Osiguranje.
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