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Nicolas Marquier, Regional Manager for the Western Balkans at the International Finance Corporation (IFC)

Financing the Future

IFC, the largest global development institution, has provided almost $1 billion in financing to Serbia’s private sector over the past six years IFC, as a...

Dr Ivan Todorović, Todorović Law Firm

Dedicated Advisors and Tenacious Litigators

The Todorović Law Firm has existed for more than 30 years and throughout that time has demonstrated its unwavering dedication to continuously advancing at...

Marija Stojiljković, Founder, Royal Nanny

Children Deserve the Best Nannies

Royal Nanny offers a wide range of childcare services, primarily through mediating between professional nannies and families, providing responsible, meticulous, trained and caring individuals Starting...

Petar Miljković, CEO, 14. Oktobar d.o.o.

Employees are the Company’s Real Strength

This former Kruševac giant, which has come a long way over the course of 100 years of operations, developing from a construction machinery factory...

Ivana Bogdanović, Director of Marketing and Corporate Communications at Addiko Bank

CSR as a Longstanding Priority

In today’s world, where gaining the trust of clients is the most important aspect of a company’s business, CSR, or socially responsible operations, represents...

Milojko Arsić Ph.D., Professor At The University Of Belgrade Faculty Of Economics

There Will Always Be Bread, But Not Smarts

Even during the times of the harshest sanctions imposed during the 1990s, enough food products were still available in Serbia. Temporary shortages of such products can only occur as a consequence of mistaken economic policies

In the case of the introduction of sanctions, we can be quite certain that would result in the worsening of relations between the Serbian and Russian political leadership. I estimate it as being unlikely that Russia would apply harsher measures against Serbia, such as halting gas supplies and the like, because in the long run that would lead to the loss of its stronghold among the Serbian people. The Russian leadership would probably try to attribute the possible imposing of sanctions to Serbia’s “unpopular pro-Western leadership”, but it would try to maintain its close affinity with the Serbian people, while seeking out new partners on the Serbian political scene. I think the economic cost of imposing sanctions against Russia would be an increase in gas prices for Serbia, probably combined with the suspending or annulling of the free trade agreement with Russia. The rise in the price of gas would have a negative impact on the entire economy and the citizens of Serbia in a certain period, while the suspension of the FTA would hit the parts of the economy that had significant exports to Russia, such as producers of fruit and vegetables.

In the case of the European Union, some form of punishment for Serbia should be expected to take the form of a suspension of EU accession talks and the withdrawing or reducing of financial assistance to Serbia. The harshest possible measure that one could expect, but which I don’t think is very likely, would be some kind of recommendation not to invest in Serbia for companies from the EU, or from key EU countries like Germany, Austria and Italy.

I estimate it as unlikely that Russia would apply harsher measures against Serbia, such as halting gas supplies and the like, because in the long run that would lead to the loss of its stronghold among the Serbian people

I don’t think the EU would go further than that, and imposing harsher measures would only serve, in the long run, to distance Serbia from the EU and push it towards Russia and China. Any significant reduction in EU investments would hit the Serbian economy hard, because it would cause a slowdown in economic growth and the stagnation of employment and standards, while problems would also arise in terms of financing the balance of payments and servicing external debts. That would all lead to increased pressure on the weakening dinar, and could also result in rising inflation.

When it comes to supplying basic foodstuffs, none of these scenarios threaten Serbia because it is a major producer and exporter of such products. Even during the times of the harshest sanctions imposed during the 1990s, enough food products were still available in Serbia. Temporary shortages of such products can only occur as a consequence of mistaken economic policies, such as controlling prices administratively etc.

Comment by Zoran Panović

Diplomatic Twine

German politician Markus Söder promised to support Serbia on its EU journey. According to the German media, Söder is making “diplomatic twine” in his...

Branka Anđelković, Co-founder and Programme Director of the Public Policy Research Centre

An Even Bigger Grey Market?

In the case of workers of the platform employed in food production and passenger transport, the Open Balkan initiative might not contribute to the...

Čedanka Andrić, President of Trade Union Confederation NEZAVISNOST

Increased Competition Between Low-Paid Workers

Considering educational qualification and unemployment structures in Serbia, my opinion is that this measure could only increase the pressure on workers in Serbia to...

Jelena Jevtović, Serbian Association of Employers

Employers Will More Quickly Find Workers

The employing of citizens of these two countries in Serbia could ease the labour shortage problem, but fundamentally resolving it requires education system reform It...

Mobi Bank Becomes Yettel Bank

Mobi Banka, soon to be Yettel Bank, has unveiled a new brand and mobile application, marking a pivotal shift...

Serbia Set to Become Europe’s Top Copper Producer with Zijin Mining Expansion

Zijin Mining has announced plans to increase the annual capacity of its Serbian project to 450,000 tonnes of copper...

ESG Adria Summit Launches in Montenegro

The second annual ESG Adria Summit kicked off today in Tivat, Montenegro, under the theme "Act now for a...

Modine Expands Serbian Operations with New Facility

Modine, a global leader in thermal management technology, has inaugurated a new 18,000-square-metre production plant in Sremska Mitrovica, Serbia,...

Novak Djokovic Wins Laureus Award for World’s Best Sportsman for Record Fifth Time

Novak Djokovic has won the Laureus award for the world's best sportsman for a record fifth time at a...

Serbia’s Gaming Industry Sees Significant Growth and Employment Surge in 2023

In 2023, Serbia's gaming industry earned more than 175 million euros, marking a 17 percent increase from 2022, and...

Maserati’s Balkan Expansion: New Showroom Opens in Belgrade

Delta Auto Group has unveiled an exclusive Maserati showroom in Belgrade, setting new luxury benchmarks in line with the...

Peter Pellegrini Wins Slovak Presidential Election

Peter Pellegrini, the candidate from the ruling coalition, won the second round of the presidential elections in Slovakia, securing...

Strategic Energy Partnership Established Between Serbia and France

The Serbian Government adopted a Memorandum of Understanding between the Government of Serbia and French Electric Power Company (EDF),...

Serbia-France Innovation Forum Begins: Innovate for the Planet! Play Green!

At the Serbia-France Innovation Forum titled 'Innovate for the Planet, Play Green', which commenced at the Palace Serbia, French...

Serbia’s Gaming Industry Sees Significant Growth and Employment Surge in 2023

In 2023, Serbia's gaming industry earned more than 175 million euros, marking a 17 percent increase from 2022, and...

Maserati’s Balkan Expansion: New Showroom Opens in Belgrade

Delta Auto Group has unveiled an exclusive Maserati showroom in Belgrade, setting new luxury benchmarks in line with the...

Peter Pellegrini Wins Slovak Presidential Election

Peter Pellegrini, the candidate from the ruling coalition, won the second round of the presidential elections in Slovakia, securing...

Strategic Energy Partnership Established Between Serbia and France

The Serbian Government adopted a Memorandum of Understanding between the Government of Serbia and French Electric Power Company (EDF),...

Serbia-France Innovation Forum Begins: Innovate for the Planet! Play Green!

At the Serbia-France Innovation Forum titled 'Innovate for the Planet, Play Green', which commenced at the Palace Serbia, French...
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