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Nikola Pejović, Umka Cardboard Mill General Manager

Sustainability and Quality as Foundations of Trust

The Umka Cardboard Mill boasts a rich tradition dating all the way back to 1939, when it was first established to produce paper and...

Miodrag Kostić Endowment

Palace of Science Welcomes Visitors

Thanks to Miodrag Kostić’s gift to the Serbian society that’s worth over 25 million euros, an area of 5,500m² in one of Belgrade’s most...

dm drogerie

CSR Marks Milestone Year for dm

Retail chain dm drogerie markt, a leader in corporate social responsibility in Serbia, concluded its anniversary year with numerous humanitarian activities and monetary and...

Kathrine Decorzant, general manager, JTI Adriatica

Benchmark for Success

JTI represents one of the largest Japanese investments in Serbia and the country’s leading tobacco company, which has been recognised as a Top Employer...

Aleksandar Momčilović, sales and service manager at Daikin Serbia (Heating & Cooling expert)

Trust Built on Expertise

Daikin has introduced many global “firsts” and patented technologies that have become indispensable in modern air conditioners and heat pumps ~ says Diakin Serbia’s...

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 that Serbia gained a new government, the seventh since 2012. The previous ones left it with one of Europe’s lowest levels of GDP per capita, average income totalling around 46% of the EU27 average and insufficient growth rates. With the average growth rate of 2.7% that Serbia has had over the previous 10 years, it won’t be able to achieve the EU’s average income level for the next 50 years (Source: World Bank). As such, higher economic growth is essential.

There are multiple obstacles to growth that the new government should get to grips with. One of the biggest is corruption. According to analysis conducted by the Fiscal Council, Serbia has been growing at a rate approximately two percentage points (p.p.) below its potential for a decade. Almost half of that reduced growth is a result of weak rule of law and high corruption. By strengthening independent institutions (primarily the judiciary) and reducing corruption levels, Serbia could achieve growth almost 1 p.p. higher.

By strengthening independent institutions (primarily the judiciary) and reducing corruption levels, Serbia could achieve growth almost 1 p.p. higher

Apart from the removing of barriers to growth, energy is also becoming a crucial factor of economic growth and development. As such, the new government’s list of priorities must include reforms in this sector, based on decarbonisation and boosting investments in new capacities to produce electricity (using hydro, wind and solar energy, while considering nuclear energy possibilities). There must also be a focus on market liberalisation and the decentralisation of production that would lay the foundations for higher economic growth in this sector.

Finally, education reform imposes itself as a measure that would have lasting effects on the economy and society. Some possible measures within the scope of this include considering the introduction of compulsory secondary education, reforming ‘gymnasium’ high schools and increasing investments in the quality of educational personnel (and not only in facilities) to raise their standard.

This could all result in long-term growth exceeding 5%, which would enable Serbia to catch up with the EU’s average income level three to four times faster than is currently possible.

Comment by Zoran Panović

The Absurdity of Reality

Amid the unfolding upheaval surrounding Trump’s return to the White House, mass Student-led protests have erupted in Serbia. The trigger was a tragedy at...

Florian Bieber, Professor for Southeast European History and Politics at the University of Graz and director of the Centre for Southeast European Studies

Autocratic Regimes Spark Mass Protests

Protests in Slovakia, Georgia and Serbia stem from different causes, but reflect broader political frustration and often inspire one another There have been large protest...

Vladan Marjanović, journalist of weekly news magazine Radar

Violence Threatens from Above and Below

With Trump’s return to the White House, the world has entered a period in which the power of state repression, based on the violating...

Slobodan G. Markovich, Faculty of Political Science of the University of Belgrade

The Mutiny of Zoomers and the Belgrade Student Protests

Gen Z in the West and Serbia seeks security and respect, expecting institutions – and not politicians – to deliver. Using likes, dislikes and...

Neoplanta Celebrates New Life with Generous Gesture

In a touching display of community spirit, Neoplanta, a renowned food company based in Novi Sad, once again marked...

The Hermitage Days are Being Held Again in Belgrade in 2025

The Hermitage Days in Serbia represent a unique international cultural project that will take place from February 19 to...

AgroBelgrade 2025 – A Hub for Innovation and Trade in Agriculture and Horticulture

Over 500 exhibitors will converge at the three-day AgroBelgrade 2025, bringing together the best of Eastern Europe’s fruit, vegetable,...

Djokovic into Australian Open Semifinals After Victory Over Alcaraz

The best Serbian tennis player, Novak Djokovic, secured his place in the Australian Open semifinals after an incredibly thrilling...

UK Surges to Second in Global Investment Rankings, Offering Hope Amid Economic Uncertainty

In a remarkable shift, the UK has surged to second place in global investment rankings, overtaking Germany, China, and...

The Hermitage Days are Being Held Again in Belgrade in 2025

The Hermitage Days in Serbia represent a unique international cultural project that will take place from February 19 to...

Djokovic into Australian Open Semifinals After Victory Over Alcaraz

The best Serbian tennis player, Novak Djokovic, secured his place in the Australian Open semifinals after an incredibly thrilling...

UK Surges to Second in Global Investment Rankings, Offering Hope Amid Economic Uncertainty

In a remarkable shift, the UK has surged to second place in global investment rankings, overtaking Germany, China, and...

Orban Visits Belgrade: Hungary and Serbia Aim for Affordable Energy for All

Hungarian Prime Minister Viktor Orban emphasized the joint goal of Hungary and Serbia to make energy accessible to citizens...

Nigeria Joins BRICS as a Partner Country

Nigeria has been admitted to BRICS as a partner country, the Brazilian Ministry of Foreign Affairs announced. Brazil currently...

The Hermitage Days are Being Held Again in Belgrade in 2025

The Hermitage Days in Serbia represent a unique international cultural project that will take place from February 19 to...

Djokovic into Australian Open Semifinals After Victory Over Alcaraz

The best Serbian tennis player, Novak Djokovic, secured his place in the Australian Open semifinals after an incredibly thrilling...

UK Surges to Second in Global Investment Rankings, Offering Hope Amid Economic Uncertainty

In a remarkable shift, the UK has surged to second place in global investment rankings, overtaking Germany, China, and...

Orban Visits Belgrade: Hungary and Serbia Aim for Affordable Energy for All

Hungarian Prime Minister Viktor Orban emphasized the joint goal of Hungary and Serbia to make energy accessible to citizens...

Nigeria Joins BRICS as a Partner Country

Nigeria has been admitted to BRICS as a partner country, the Brazilian Ministry of Foreign Affairs announced. Brazil currently...
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