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Milan Rašković, architect, partner and director, Bureau Cube Partners

Restoring The SANU Building’s Splendour

Architectural studio Bureau Cube Partners offers a set of complete services throughout the entire process of constructing a facility. This studio’s portfolio is impressive,...

Nenad Nikolin, Director, CCS Solutions

A Green Mask For A Safe Environment

The coronavirus crisis prevented CCS Solutions in its further development and promotion of CouchCoach, its application for basketball fans. But the result was a...

Aleksandar Radivojević, General Manager, TeamEnergo

Experts In FTTH Technology

Almost seven years have passed since group of enthusiasts came out of Telegroup and created TeamEnergo, which engineers today contribute to the modernisation of...

Dušica Gaković, Project Lead, Deka Inženjering [engineering]

We’ll Revive The City

Deka Inženjering is a company that's been operating on our market for nearly 10 years and is currently building more than 250,000 square metres...

Milan Lučić, Director Of The Serbian Business Registers Agency

We Ease Business Operations

Over the previous years, the Serbian Business Registers Agency (SBRA) has been continuously introducing numerous new electronic services for businesses and other customers. With...

Danko Brčerević, Chief Economist of the Fiscal Council of Serbia

We Don’t Need to be Bad Pupils Again

Preserving the health of the population, maintaining fiscal discipline and creating a new model of economic growth should be on the government’s desk from the first day of its term. One important argument for that is also the fact that the cost of servicing Serbia’s public debt, totalling about 60% of GDP, is higher than the cost of servicing the French public debt, which exceeds 100% of GDP.

Preserving the lives and health of citizens is the main mission of the Government while the health crisis lasts. When the epidemic is brought fully under control, the Government will have to face several important economic challenges, three of which I will single out here: 1) restoring the budget balance that has been destroyed; 2) increasing public investments, particularly in neglected areas like health, education and environmental protection; 3) advancing institutions, i.e. improving the rule of law and curbing corruption.

The Government should reduce the fiscal deficit in 2021 from the current level of 7-8% of GDP to around two per cent of GDP. This would halt the further growth of public debt and restore the country’s fiscal stability. Reducing debts is important because Serbia has to borrow at double the interest rate of developed Europe – i.e. the cost of servicing Serbia’s public debt, which totals about 60% of GDP, is higher than the costs of servicing France’s public debt, which stands at over 100% of GDP. Experiences from the previous crisis (2009) also highlight the importance of quickly establishing fiscal stability after a crisis. Delays in implementing fiscal consolidation (which was only implemented in 2015) led to a decade of low economic growth during which other countries of the Central and Eastern European region (CEE) outpaced Serbia in terms of economic development and the population’s living standards.

It is necessary to finally complete the reconstruction and construction of four large clinical centres and increase the procurement of health equipment in order to make up for the shortfall that Serbia has in relation to comparable countries

In the years ahead there should be an increase in public investment, given that it effectively stimulates economic recovery. A great need for this also exists in particular areas where investment has been insufficient over the years (health, education, environmental protection). The current crisis has shown what a major mistake it was not to place healthcare high on the list of state priorities. It is thus necessary to finally complete the reconstruction and construction of four large clinical centres (funding for which was secured back in 2006) and to make up for the shortfall that Serbia has in relation to comparable countries by increasing the procurement of health equipment.

The new government must reconsider the existing economic growth model, which isn’t sufficiently efficient at present. Serbia is overly reliant on individual projects and foreign investors, and not relaient enough on the systematic development of the domestic private sector. Of course, it is commendable that Serbia has been a record holder in attracting FDI in the CEE region over the previous three years. However, the initiatives of a large number of domestic entrepreneurs are even more important for the sustainable and stable development of any European country. The research that we’ve conducted shows that corruption and the insufficient level of adherence to the rule of law are the main hindrances to the domestic private sector. That’s why the long-term prosperity of Serbia requires the building of institutions that are professionally strong and independent, which must be one of the priorities of the new government.

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Aleksandar Baucal Ph.D, Faculty of Philosophy in Belgrade

Innovations in education, but real ones

The key question for the new government is how to intelligently and effectively utilise existing resources in each sector. In the field of education,...

Jasna Atanasijević, Assistant Professor at the University of Novi Sad’s Faculty of Sciences, Department of Mathematics and Informatics

Knowledge, Innovation, Rule Of Law

Investing in the modernising of education, encouraging companies to innovate by investing in research and development in collaboration with the academic sector, and the...

Jelena Žarković, associate professor at the Belgrade Faculty of Economics

Health and Education First and Foremost

Considering that the economy received significant assistance in the previous period, the new government should focus attention primarily on the health sector and education,...

Jurij Bajec Ph.D., special advisor at the Institute of Economics and full professor at the University of Belgrade’s Faculty of Economics

The World is Changing and So Must We

The opportunity exists for Serbia to start connecting with rapidly changing global economic trends and to launch products and services that have higher added...

News

Richard Grenell: Serbia-Kosovo Agreement Results From Trump’s Different Brand Of Diplomacy

President Aleksandar Vučić of Serbia and Prime Minister Avdullah Hoti of Kosovo took an enormous step toward a long-term...

Agreement On Normalisation Of Economic Relations Between Belgrade And Pristina Signed

President of Serbia Aleksandar Vucic and Prime Minister of the Provisional Institutions of Kosovo Avdullah Hoti signed an Agreement...

Symbols Of Belgrade Lit In Colors Of The Polish Flag

On the occasion of marking the 40th anniversary of the founding of the "Solidarity" movement, Branko's Bridge, the Bridge...

Montenegro Election: First Projections Point To A Tight Race

In Montenegro, the ruling DPS was nearly neck-and-neck with its main rivals, according to early and incomplete projections of...

Gorenje To Hire 600 Temp Workers Due To Surge In Orders

Slovenian home appliance manufacturer Gorenje is hiring some 600 temporary workers to cope with a record number of orders....

Agreement On Normalisation Of Economic Relations Between Belgrade And Pristina Signed

President of Serbia Aleksandar Vucic and Prime Minister of the Provisional Institutions of Kosovo Avdullah Hoti signed an Agreement...

Montenegro Election: First Projections Point To A Tight Race

In Montenegro, the ruling DPS was nearly neck-and-neck with its main rivals, according to early and incomplete projections of...

EU Awards One Million EUR In Grants For COVID Recovery In Tourism Sector

“#EUzaTebe – For Cultural Heritage and Tourism” project has awarded one million euros for 120 projects aimed at supporting...

UNDP And Embassy Of Slovakia Present Feasibility Study On Use Of Thermosolar Energy

The Mayor of Belgrade, Zoran Radojičić, met with the Ambassador of Slovakia to Serbia, H.E. Fedor Rosocha and Resident...

The EU Does Not Recognize Belarus Election Results

Members of the European Council held a video conference, at which they discussed the situation after the presidential elections...

Agreement On Normalisation Of Economic Relations Between Belgrade And Pristina Signed

President of Serbia Aleksandar Vucic and Prime Minister of the Provisional Institutions of Kosovo Avdullah Hoti signed an Agreement...

Montenegro Election: First Projections Point To A Tight Race

In Montenegro, the ruling DPS was nearly neck-and-neck with its main rivals, according to early and incomplete projections of...

EU Awards One Million EUR In Grants For COVID Recovery In Tourism Sector

“#EUzaTebe – For Cultural Heritage and Tourism” project has awarded one million euros for 120 projects aimed at supporting...

UNDP And Embassy Of Slovakia Present Feasibility Study On Use Of Thermosolar Energy

The Mayor of Belgrade, Zoran Radojičić, met with the Ambassador of Slovakia to Serbia, H.E. Fedor Rosocha and Resident...

The EU Does Not Recognize Belarus Election Results

Members of the European Council held a video conference, at which they discussed the situation after the presidential elections...