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Jelena Puzović, Ph.D., Head of the JVP Srbijavode Public Relations and International Cooperation Sector

Serbia Must Ensure the Conservation of the Precious Resource That is Water

Public Water Management Company Srbijavode engages in numerous activities aimed at overcoming the challenges brought by climate change – implementing projects to develop and...

Uroš Đorđević, Account Executive, Dell Technologies

Pioneer in the New Era of Digital Tech

Dell Technologies is a corporation that’s oriented towards technological innovation and keeps pace with technological trends in every sense, which includes AI Speaking in this...

Ana Toskić Cvetinović, Executive Director, Partners for Democratic Change Serbia

The Rule of Law is Vital Ana

Partners Serbia is an organisation that’s dedicated to advancing the rule of law and developing civil society and institutions in Serbia and around the...

Ioanna Batsialou Ph.D., Director and Owner of the Ioanna Regen Polyclinic

Passion is Key to this Job

Ioanna Batsialou Ph.D. is the director and owner of the Ioanna Regen Polyclinic, which specialises in physical medicine, rehabilitation, mesotherapy, aesthetics and anti-aging treatments Our...

Maja Marić, Country Manager Operations, CPI Property Group

Retail Parks Remain Fashionable

A key part of the company culture at CPI Property Group Serbia, which forms part of a family firm that was founded in the...

Branimir Jovanović, Economist at the Vienna Institute for International Economic Studies

Not the Right Time To Save

GDP growth stats don’t mean much in these kinds of crises, because the majority of people are living worse than before in spite of GDP growing. Considering that prices are continuing to rise in Serbia, it is highly likely that the wave of protests that started recently could become even bigger from the coming autumn, particularly if the government fails to raise salaries and pensions

Our institute’s projections are that Serbia’s economic growth will probably be even lower, no more than 1.5%. The country’s GDP even fell in the first quarter of this year compared to the previous quarter, which happened for two main reasons. The first is that inflation was excessively high, at close to 15%, which reduces purchasing power and thus also household consumption. The second reason is weak government spending, which additionally slowed down the economy. The government needs to address these two things in order to stimulate the economy. It firstly needs to increase its spending, as it did during 2020, at the start of the pandemic. And it secondly needs to raise all types of income that it has an impact on – such as public sector wages, pensions and social assistance – in order to encourage consumer spending.

When it comes to living standards, it should be noted that this crisis is specific in that it doesn’t impact all people in the same way. Rising prices mean higher living costs for some, but higher profits for others. Of course, the first group has far more members and they include almost everyone who lives from their work, and that accounts for 95% of people. That’s why GDP growth stats don’t mean much in these kinds of crises, because the majority of people are living worse than they were before despite GDP growing. That creates dissatisfaction that can easily turn into protests, which we are even seeing in countries that are known for their socialist qualities, like France. Considering that prices are continuing to rise in Serbia, it is highly likely that the wave of protests that started recently could become even bigger from the coming autumn, particularly if the government fails to raise salaries and pensions.

It wouldn’t be good for the state to decide to start saving and fail to increase salaries and social transfers, for EU integration to reach a standstill and for reforms to be abandoned, as that would undoubtedly lead to stagnation

As for foreign investments, these protests don’t mean much to them, as they do not disrupt their operations. Geopolitical issues are much more important to them, first and foremost whether Serbia is moving towards the EU or the East. There were numerous dilemmas in this regard with the outbreak of the war in Ukraine last year, which is why we saw a decline in foreign investments from the EU. It seems to be becoming clearer this year that Serbia still wants to take the road to the EU, which is why foreign investments recorded growth of more than 50% in the first five months of this year. When it comes to the end of this year and next year, the best-case scenario is for people’s earnings to increase, for the state to intensify its spending in order to stimulate the economy, for doubts about Serbia’s European path to be overcome and thus foreign investments to increase, and for reforms to be implemented in order to support domestic investment. In such a case, economic growth could reach 3% by as early as next year. The worst-case scenario would be for the state to start saving and fail to increase salaries and social transfers, for a standstill in EU integration to be reached and for no reforms to be implemented. In such a case, Serbia would face economic stagnation, with growth of around 1%.

Slađana Prica, retired ambassador, member of the Forum for International Relations and honorary president of the UNA of Serbia

Diplomatic Response Overdue

The issue of the so-called ‘self-proclaimed’ Kosovo joining Europe’s oldest political organisation has long been an open question. Attempts have been made and lobbying...

Slobodan G. Markovich, Institute for European Studies and Faculty of Political Science

U.S. Elections More Critical for EU Future than EP Elections

While the EU’s right-wing parties are expected to make gains, these gains shouldn’t be expected to substantially alter the composition of the Parliament or...

Ivana Radić Milosavljević, Assistant Professor in European Studies at the University of Belgrade - Faculty of Political Sciences

Not all Right-Wing Parties are Likeminded

The outcome of the European Parliament election is unlikely to cause a dramatic shift in EU policy, particularly foreign policy, but it could hamper...

Rajko Petrović, Research Associate at the Institute of European Studies

The EU Idea is Stronger than the Outcome of Less Important Elections

The electorate’s shift to the right won’t change the nature and essence of the idea of the European Union, and thus neither will it...

Zoran Andjelković Ascends to Directorship of Serbian Post

Zoran Andjelković has been appointed as the new acting director of Pošta Srbije (Serbian Post), as announced in the...

Business Event Hosts Serbian Employment Service Presentation

In Belgrade on the 15th of May, the Slovenian Business Club, in collaboration with the National Employment Service of...

Golubac Marks Milestone with Inauguration of Eastern Serbia’s First Wind Farm

In a significant development for Serbia's renewable energy sector, Golubac celebrated the grand opening of the "Krivača" wind farm,...

Conference “Thinking Green & Living Clean” Held

On Wednesday, 15 May, the "Thinking Green & Living Clean" conference took place at the Sava Center, marking the...

Serbia and Albania Witness Significant Trade Surge, Reaching 311.4 Million Euros in 2023

Serbia and Albania saw a notable boost in trade exchange, hitting 311.4 million euros in 2023, an 8% increase...

Business Event Hosts Serbian Employment Service Presentation

In Belgrade on the 15th of May, the Slovenian Business Club, in collaboration with the National Employment Service of...

Launch of the Council of European Business Associations and Chambers in Serbia

European business associations and bilateral chambers have established the Council of European Business Associations and Chambers in Serbia (CEBAC),...

EU Commissioner Várhelyi Visits Serbia to Discuss Deepening Integration and Regional Stability Efforts

In a pivotal meeting in Belgrade, Serbian President Aleksandar Vučić and EU Commissioner for Neighbourhood Policy and Enlargement Olivér...

Ukraine’s First Lady Visits Serbia in Historic Diplomatic Move

Ukraine's First Lady, Olena Zelenska, arrived in Belgrade on Sunday, marking a historic visit as the first top Ukrainian...

Opposition Claims Resounding Victory in North Macedonia Elections

The conservative opposition VMRO-DPMNE coalition in North Macedonia has declared a sweeping victory in both presidential and parliamentary elections....

Business Event Hosts Serbian Employment Service Presentation

In Belgrade on the 15th of May, the Slovenian Business Club, in collaboration with the National Employment Service of...

Launch of the Council of European Business Associations and Chambers in Serbia

European business associations and bilateral chambers have established the Council of European Business Associations and Chambers in Serbia (CEBAC),...

EU Commissioner Várhelyi Visits Serbia to Discuss Deepening Integration and Regional Stability Efforts

In a pivotal meeting in Belgrade, Serbian President Aleksandar Vučić and EU Commissioner for Neighbourhood Policy and Enlargement Olivér...

Ukraine’s First Lady Visits Serbia in Historic Diplomatic Move

Ukraine's First Lady, Olena Zelenska, arrived in Belgrade on Sunday, marking a historic visit as the first top Ukrainian...

Opposition Claims Resounding Victory in North Macedonia Elections

The conservative opposition VMRO-DPMNE coalition in North Macedonia has declared a sweeping victory in both presidential and parliamentary elections....
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