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Prof. Dr. Ioanna Batsialou, Director and Owner of Ioanna Regen Polyclinic

Sun YES, Ageing NO

Despite the common belief that medical aesthetic treatments are only performed in winter, our need for care is much greater during the summer, says...

Peter Novak, Managing Director at Kolektor Etra

Transformers for the Most Demanding Consumers

Ljubljana-based Kolektor Etra has a tradition of producing power transformers that dates back over 90 years. It is present with its products in more...

Danijela Bojović, Project and Real Estate Manager, Napred

Napred: Synonymous with Progress

Over the past 75 years, Belgrade-based company Napred has established a formidable presence in 10 countries across three continents. This company has consistently emerged...

Djordje Djokic, Senior Partner, Djokic + Partners

Building a Brand Through Quality

Djokic + Partners is considered one of the top law firms in the banking and financial sectors due to its profound understanding of business...

Wolt

Wolt is Transforming the Delivery Industry

Speed, sustainability and growth are supported by technological innovations This headline recently emerged from a Bloomberg interview with Matko Katanec, Wolt Regional Director for CEE...

Bojan Stanić, Assistant Director of the CCIS Strategic Analysis & Data Department

Economic Growth is Positive, But Insufficient

It is good that Serbia’s economic growth will remain positive during both this year and next, but considering the needs of the population and the economy, these kinds of growth rates remain signifficantly below the economic potential

The Serbian population feels continuous pressure as a result of inflation, rising energy prices and high interest rates, while businesspeople are increasingly concerned about the issue of selling products and services on the domestic market in the coming months, as well as in the next year. On the flip side, the Eurozone economy has entered a period of anaemic growth, especially Germany, which is this year recording a recession due to the reordering of its supply chains, both energy and industrial. The European economy’s low growth certainly also hampers the achieving of sales on the international market, considering that it represents the chief export market for products from Serbia and the source of most investments. Also standing out is the opinion of the majority of analysts that interest rates will remain high for longer than was initially expected, while inflation could emerge sporadically across certain parts of the world, representing a factor that we’ll have to live with over the medium term.

Recent events on the territory of Kosovo resounded strongly in the ears of investors, with lots of foreign companies asking how dificult the situation is, given the reports of their local press. However, the prevailing opinion is that any further escalation will be minimal. On the other hand, the complicating of the political situation in the Middle East is already causing a rise in uncertainty with regard to oil supplies, while the price of this basic energy source is also rising, given the preceding reduction in supplies as a result of production restrictions among OPEC countries.

Recent events on the territory of Kosovo resounded strongly in the ears of investors, but the prevailing opinion is that any further escalation will be minimal

The Chamber of Commerce And Industry of Serbia is continuing its internationalisation activities, with business trips to Iran and Kenya having been conducted, coupled with endeavours for domestic companies to occupy a certain segment of the rapidly growing markets of Asia and Africa. Distinct complexity exists when it comes to positioning on faraway markets, a concrete example of which is China, which represents one of the country’s main foreign trade partners, though to date the Chinese market has only accounted for less than half a per cent of Serbia’s total exports of food products.

It is vital for Serbia’s economic growth to remain positive during this year and next, within the range of two to three per cent, given the current geoeconomic situation in Europe, but it must be stressed that – considering the needs of the population and the economy – these rates are significantly below the economic potential. The key elements when it comes to the long-term sustainability of Serbia’s economic growth, in addition to avoiding a spillover of the political crisis, are the issue of reducing the chronic foreign trade deficit through the improvement of the export structure, but also boosting the living standard of the population, which includes, but isn’t exclusive to, increasing their purchasing power.

As things currently stand, inflation will continue to slow in Serbia, only to reduce to within the limits of the NBS target of around 3% during the second half of next year. A similar conclusion is also indicated by the latest IMF report, which envisages average annual inflation in Serbia at the level of 5-6% (2024). Under the scope of macroeconomic stability, we should emphasise the single-digit unemployment rate (9.6%), which should decrease slightly over the medium term. However, the fact remains that a significant section of the unemployed population is represented by a section that has been rendered completely passive in economic terms, so it is essential to apply state aid measures to activate that part.

Comment by Zoran Panović

From Lavrov to Macron

Despite the Serbian Progressive Party (SNS) having signed a Cooperation Agreement with Putin’s United Russia, and despite SNS President and Serbian PM Miloš Vučević...

Goran Radosavljević, Ph.D. Vice Dean and Director of the FEFA Institute

We Need to Quadruple Our Growth Rate

Reducing corruption, reforming the energy sector and fundamentally changing the secondary education system are the keys to faster economic growth It was two months ago...

Luka Baturan, University of Novi Sad Faculty of Law

Arbitrary Tax Breaks Degrade the System

The biggest job that Serbia has to do – and it pertains to tax regulations – is to radically reform personal income tax and...

Nebojša Bjelotomić, Director of the Digital Serbia Initiative

Instead of Walls and Machines, We’re Investing in People and Their Knowhow

For countries with a falling population, it is recommended that all remaining workers “climb” the ladder of industrial worth. However, this means dealing far...

Montenegro Nominated for Europe’s Most Desirable Destination Award

Montenegro has been nominated for the prestigious title of Europe's most desirable destination in the Wanderlust Reader Travel Awards...

Serbia Signs Memorandum on Nuclear Energy Development

In a significant move towards modernizing its energy sector, the Serbian government, along with twenty scientific and academic institutions,...

H.E. József Magyar – The Western Balkans is a Priority

The Hungarian Embassy in Belgrade hosted a reception to mark the beginning of Hungary's presidency of the Council of...

The International “Aleksandar Tišma” Literary Award ceremoniously presented to French writer Cécile Wajsbrot

The third International “Aleksandar Tišma” Literary Award was ceremoniously presented to French writer Cécile Wajsbrot on June 24, 2024,...

75th Anniversary of the Council of Europe Marked

The Council of Europe Office in Belgrade marked the 75th anniversary of the Council of Europe with a commemorative...

Montenegro Nominated for Europe’s Most Desirable Destination Award

Montenegro has been nominated for the prestigious title of Europe's most desirable destination in the Wanderlust Reader Travel Awards...

The International “Aleksandar Tišma” Literary Award ceremoniously presented to French writer Cécile Wajsbrot

The third International “Aleksandar Tišma” Literary Award was ceremoniously presented to French writer Cécile Wajsbrot on June 24, 2024,...

Medtronic to Launch Operations in Serbia with Strategic Bio4 Campus Partnership

American medical technology giant Medtronic is set to establish operations in Serbia following a memorandum of understanding signed with...

Mickoski Proposes New Government for North Macedonia

Hristijan Mickoski, leader of VMRO-DPMNE and the designated Prime Minister of North Macedonia, has formally submitted his proposed cabinet...

King Frederick X Inaugurates First Section of Undersea Tunnel Connecting Denmark and Germany

King Frederick X of Denmark has inaugurated the first segment of the ambitious 18-kilometre Fehmarn Belt tunnel beneath the...

Montenegro Nominated for Europe’s Most Desirable Destination Award

Montenegro has been nominated for the prestigious title of Europe's most desirable destination in the Wanderlust Reader Travel Awards...

The International “Aleksandar Tišma” Literary Award ceremoniously presented to French writer Cécile Wajsbrot

The third International “Aleksandar Tišma” Literary Award was ceremoniously presented to French writer Cécile Wajsbrot on June 24, 2024,...

Medtronic to Launch Operations in Serbia with Strategic Bio4 Campus Partnership

American medical technology giant Medtronic is set to establish operations in Serbia following a memorandum of understanding signed with...

Mickoski Proposes New Government for North Macedonia

Hristijan Mickoski, leader of VMRO-DPMNE and the designated Prime Minister of North Macedonia, has formally submitted his proposed cabinet...

King Frederick X Inaugurates First Section of Undersea Tunnel Connecting Denmark and Germany

King Frederick X of Denmark has inaugurated the first segment of the ambitious 18-kilometre Fehmarn Belt tunnel beneath the...
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