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Mr Sci. Dr Nemanja Popović, owner and director, Dental practice Dr Popović

Patients are looking for safety and quality

With a tradition of more than 35 years, dental surgery Dr Popović is the only one in Serbia with Temos accreditation and a recommendation...

Vadim Smirnov, Deputy CEO, NIS

NIS Relies On Foundations Of Sustainable Development

NIS has long since ceased to be just an oil company, as it has taken strides to enter into the production and trade of...

Aleksandra Stojanović, Investment Director And Chief Corporate Affairs Officer MK Group

MK Group Engaged In New Real Estate Projects

MK Group has brought completely new real estate concepts to the market during the past year. They showed just how much expertise in tourism...

Slobodan Vasilijević, Owner And Director At Slovas

Great Plans For Jubilee Year

Čačak-based company Slovas, a leader in trade in the stainless steel industry and the production of processing equipment, has spent a full three decades...

Marija Popović, Chief Corporate Affairs Officer, Ananas e-commerce

The First Marketplace At The Right Time

The crisis that emerged as a consequence of the pandemic brought new perspectives in many areas of business, and e-commerce was certainly no exception....

H.E. Demetrios Theophylactou, Ambassador Of Cyprus

Optimism For War To End In 2023

The optimistic outlook is that most countries – particularly in the EU – have become much better at managing global challenges. The not-so-optimistic outlook is that geopolitics is characterised by increased volatility. Subsequently, geopolitics has major negative consequences for the global economy ~ Demetrios Theophylactou

This brief assessment concerning optimism, or luck thereof, as we enter 2023, taking into account the war in Ukraine, as well as ongoing conflicts in the Western Balkans, the Middle East and Eastern Mediterranean, focuses on the impact of the complex global situation on economies. The first part concerns the economy of Cyprus, while the second looks more broadly at global economic trends. The Cypriot economy grew by more than 6% of GDP by the end of 2022, surpassing the EU average. The annual growth rate was substantially higher than the EU average of 2.4% GDP and the eurozone’s 2.1%. Despite the serious challenges posed by the Russian invasion of Ukraine, the Cypriot economy proved resilient when other EU economies faced the risk of recession. Still, this optimistic outlook by no means ignores high inflation and rising energy prices. However, the negative effects of the ongoing war in Ukraine on economic activity appear to be unfolding slowly, inevitably impacting the outlook for 2023.

Real GDP growth in 2023 is forecast at 2.4%, driven by several factors, including the deterioration of EU economic sentiment and weakening of business confidence. When we look at the global picture, higher energy prices and interest rates will cause growth to slow across most of Europe, and other parts of the world, with some countries falling into recession. The energy shock will impact countries differently, with some hit quite hard and some continuing to perform relatively well. In conclusion, the optimistic outlook is that most countries – particularly in the EU – have become much better at managing global challenges, such as the pandemic. The not-so-optimistic outlook is that geopolitics is characterised by increased volatility. Subsequently, geopolitics has major negative consequences on the global economy. Assuming that the war in Ukraine ends in 2023, a most optimistic scenario will prevail in respect to economic performance. Let us hope that this will be the case, for the benefit of the world.

Celebration Of Republic Day Of India

The Embassy of India India in Belgrade celebrated the 74th Republic Day of India on 26 January 2023 to commemorate the coming into force of the Constitution of...

Serbia Celebrates The Chinese New Year

With the warm wishes of Chinese Ambassador H.E. Chen Bo and Prime Minister of Serbia Ana Brnabić to strengthen the steely friendship and prosperity...

Ana Brnabić Receives The Ambassador Of Cuba On A Farewell Visit

The Prime Minister of Serbia, Ana Brnabić, received the ambassador of the Republic of Cuba H.E. Gustavo Trist del Todo, on a farewell visit,...

Edward Ferguson To Be His Majesty’s Ambassador To Serbia

Great Britain appointed Edward Ferguson as the new ambassador to Serbia. Mr Ferguson will take over from the current ambassador Sian MacLeod in July 2023. During...

Djokovic’s Historic Australian Open Win Extends ‘Big Titles’ Lead

Novak Djokovic claimed a record-tying 22nd Grand Slam title on Sunday when he won the Australian Open, extending his...

Celebration Of Republic Day Of India

The Embassy of India India in Belgrade celebrated the 74th Republic Day of India on 26 January 2023 to commemorate the coming into...

Spectatular Mileston In First Boeing 767 Conversion In Europe Marked At Ceremony In JAT Tehnika

Avia Prime Group, one of the leading organizations for aircraft maintenance in Europe, consisting of three eminent companies including...

Ministry Of Mining And Energy And USAID Forge Energy Partnership

The Ministry of Mining and Energy (MoME) and the United States Agency for International Development (USAID) signed a Memorandum...

Donation Agreement Signed For The Fourth Section Of Trans-Balkan Corridor

The Minister of Mining and Energy Dubravka Đedović, the Minister for European Integration Tanja Miščević, the director of Elektromreža...

Djokovic’s Historic Australian Open Win Extends ‘Big Titles’ Lead

Novak Djokovic claimed a record-tying 22nd Grand Slam title on Sunday when he won the Australian Open, extending his...

Celebration Of Republic Day Of India

The Embassy of India India in Belgrade celebrated the 74th Republic Day of India on 26 January 2023 to commemorate the coming into...

Spectatular Mileston In First Boeing 767 Conversion In Europe Marked At Ceremony In JAT Tehnika

Avia Prime Group, one of the leading organizations for aircraft maintenance in Europe, consisting of three eminent companies including...

Ministry Of Mining And Energy And USAID Forge Energy Partnership

The Ministry of Mining and Energy (MoME) and the United States Agency for International Development (USAID) signed a Memorandum...

Donation Agreement Signed For The Fourth Section Of Trans-Balkan Corridor

The Minister of Mining and Energy Dubravka Đedović, the Minister for European Integration Tanja Miščević, the director of Elektromreža...

Djokovic’s Historic Australian Open Win Extends ‘Big Titles’ Lead

Novak Djokovic claimed a record-tying 22nd Grand Slam title on Sunday when he won the Australian Open, extending his...

Celebration Of Republic Day Of India

The Embassy of India India in Belgrade celebrated the 74th Republic Day of India on 26 January 2023 to commemorate the coming into...

Spectatular Mileston In First Boeing 767 Conversion In Europe Marked At Ceremony In JAT Tehnika

Avia Prime Group, one of the leading organizations for aircraft maintenance in Europe, consisting of three eminent companies including...

Ministry Of Mining And Energy And USAID Forge Energy Partnership

The Ministry of Mining and Energy (MoME) and the United States Agency for International Development (USAID) signed a Memorandum...

Donation Agreement Signed For The Fourth Section Of Trans-Balkan Corridor

The Minister of Mining and Energy Dubravka Đedović, the Minister for European Integration Tanja Miščević, the director of Elektromreža...
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