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The Government of the Republic of Serbia

In the service of citizens

Government significantly improved country’s business climate

Belgrade, 13 December 2004

Serbian Minister of Economy Predrag Bubalo said today that promoting export and competitiveness of domestic companies, reducing the foreign trade debt, privatising the banking sector, restructuring public companies and privatisation are the basic criteria for a stable and strong domestic economy.

Predrag Bubalo

Author: Tanjug

Attending the meeting of the Serbia-Montenegrin Association of Industrialists and Entrepreneurs at the Serbian Chamber of Commerce, Bubalo said that the government has done a lot to improve the business climate in the country, lure investments, and upgrade business operations and economic efficiency.

According to him, the government has made a significant step in creating the legal and institutional environment by passing over 40 laws in the economy sector, based on market economy principles.

Bubalo said that the Serbian economy is faced with certain boundaries and obstacles, including the state claims, noting that the government has come up with a set of economic regulations due to be adopted in the next period. He explained that after the regulations are adopted, the local economy would be relieved by seven billion dinars, thus making conditions for creating new jobs.

The Minister said that Serbia’s road to the European Union will be determined by economic trends, while the very act of joining the Union will be a political decision.