Sitemap

Comment

Crises Give Birth To New Solutions

Even though we have continuity of government, there’s no doubt that the set of measures the government will have to opt for will differ to the measures from the start of fiscal consolidation and the struggle against the consequences of the pandemic. This special edition presents a treasure trove of proposals for ways to utilise available resources effectively and wisely, preserve much-needed economic growth and create space for the society’s green transition

Afteranextendedperiod, theGovernment of the Republic of Serbia decided to seek a new agreement with the International Monetary Fund (IMF), prior to which it concluded a financial agreement worth a billion dollars with the United Arab Emirates, which will reportedly be used to settle old loan obligations and purchase gas and electricity. These two items of news already clearly demonstrate that we are returning to old topics – in an attempt to forestall the coming consequences of the spreading global crisis, which is this time spurred by the crisis in Ukraine, inflation and expected reductions in economic activity at the global level.

The continuation of fiscal consolidation, implementation of structural reforms with an emphasis on the privatisation and corporatisation of public enterprises, and the control of the budget deficit, which, among other things, await the new Government, will unfold under conditions of rising prices and inflationary pressures, possible energy supply crises and significant, deep-rooted problems that arise from the labour force’s relatively low level of productivity. Much is stated in this publication about the necessary next steps if Serbia intends to preserve its macroeconomic stability and economic growth, primarily in interviews with representatives of international financial institutions.

Crises are times in which dialogue, exchanges of experiences and expertise, as well as the identifying of new solutions, gain paramount importance. There is no doubt that the Government of the Republic of Serbia has at its disposal the resources that are available to business associations. The Foreign Investors Council, with a presence and activity in Serbia dating back two decades, has proven itself to be a reliable partner, but also a driving force in the development of a predictable, competitive and sustainable environment for doing business, promoting Serbia as an excellent place to invest

Potential new aid packages – for both the economy and the population – will no doubt not be as lavish or broad in scope as was the case during the COVID-19 pandemic, because reserves have fallen significantly in the meantime. And even if the situation differed, a question would still arise as to the ultimate efficacy of the results of nonselective measures.

Crises are times in which dialogue, exchanges of experiences and expertise, as well as the identifying of new solutions, gain paramount importance. There is no doubt that the Government of the Republic of Serbia has at its disposal the resources available to business associations. The Foreign Investors Council, with a presence and activity in Serbia dating back two decades, has proven itself to be a reliable partner, but also a driving force in the development of a predictable, competitive and sustainable environment for doing business, promoting Serbia as an excellent place to invest. As a unified voice of investors who have to date invested huge funds in Serbia and created around 100,000 jobs, the FIC remains consistent in its quest to find new opportunities to contribute to Serbia’s overall socioeconomic progress. The Council’s White Book represents one such document, which continuously monitors the advances of the business climate in various areas, but also represents a roadmap for further change.

All times, even those that are most difficult, bring some positive changes. Accordingly, COVID-19 served to significantly accelerate digitalisation and today represents the motor for the transformation and growth of many companies, as is also discussed in this edition. There is also reason to believe that the current crisis could lead to another positive shift, in terms of the green transition.

Related Articles

FIC Serbia Marks 20 Years of Operations

The Foreign Investors Council in Serbia (FIC) marked 20 years of operations with a ceremony held at Hyatt hotel... Read more

Foreign Investors Council In Serbia Celebrates Its 20th Anniversary

The Foreign Investors Council in Serbia (FIC) marked 20 years of operations with a ceremony held at Hyatt hotel. At the event awards for cooperation...

Foreign Investors Council Presented The White Book 2022

In the year when the Foreign Investors Council (FIC) marks the 20th anniversary of its establishment and operation, the "White Book 2022" was presented...

FIC Autumn Networking Cocktail

FIC Serbia and its distinguished member Karanovic & Partners organized the second FIC networking cocktail this year. The Executive Director of the Council, Aleksandar Ljubić, thanked Karanovic &...

FIC Networking Cocktail

FIC Serbia and its distinguished member Karanovic & Partners organized the second FIC networking cocktail this year. Read more...

IMF: The Decline Of The World Economy In 2023

Things are more likely to get worse than better, International Monetary Fund Managing Director Kristalina Georgieva predicted, as the IMF again cut its projections...

IMF: War Caused Biggest Food Shortage Since 2008

The war in Ukraine has disrupted supplies of grain and fertilizer, producing the worst food shortages since the global financial crisis of 2007 and...

Mike Michel, President Of The Foreign Investors Council And CEO Of Yettel

I Choose To Be An Optimist

The country needs strong economic growth through sustainable fiscal consolidation and the continued privatisation and corporatisation of public enterprises and the reform of public...

More...

Comment By Zoran Panović

Year Of Turmoil

Vučić’s influence over political gravity on the quantum vacuum of Serbia’s multiparty system could, in the best-case scenario, redefine and strengthen the politics of...

Branimir Jovanović, Economist At The Vienna Institute For International Economic Studies

The EU And The Western Balkans Still Need Each Other

The importance of the Western Balkans is primarily strategic and political. If the EU pushes the region away, it will turn towards Russia and...

Dr Duško Lopandić Ph.D., Vice President Of The European Movement In Serbia

Third Round Of Euro Integration?

The need to accelerate Ukraine’s EU integration, coupled with incentives to fortify the union’s international geopolitical “might”, as well as the general influence and...

Vukan Marković, University Of Belgrade, Institute For Philosophy And Social Theory; Cambridge University Ph.D. Student

EU Enlargement Is Back In Focus

EU enlargement is becoming a geopolitical tool for securing borders and consolidating the continental bloc. This will likely also impact the Balkans, judging by...

News

55th International Car Show Opened

The International Car Show, 55th in a row, opened in Belgrade and has gathered 250 exhibitors who will present...

Serbia Is Spain’s Main Foreign Trade Partner In The Western Balkans

Serbia is the main foreign trade partner of Spain in the Western Balkans and is responsible for more than...

Đukanović And Milatović In The Second Round Of Presidential Elections In Montenegro

According to preliminary data from the Montenegrin Monitoring Center (CeMI), based on 95.5 per cent of the processed sample,...

In 2022 Norway Earned Five Times More From The Sale Of Oil And Gas

In 2022, Norway earned five times more from the sale of oil and gas compared to previous years, thanks...

Dragan Džajić The New President Of The Football Association Of Serbia

Dragan Džajić, one of the best football players from this area of ​​all time, was elected unanimously, with 78...

55th International Car Show Opened

The International Car Show, 55th in a row, opened in Belgrade and has gathered 250 exhibitors who will present...

Serbia Is Spain’s Main Foreign Trade Partner In The Western Balkans

Serbia is the main foreign trade partner of Spain in the Western Balkans and is responsible for more than...

Đukanović And Milatović In The Second Round Of Presidential Elections In Montenegro

According to preliminary data from the Montenegrin Monitoring Center (CeMI), based on 95.5 per cent of the processed sample,...

In 2022 Norway Earned Five Times More From The Sale Of Oil And Gas

In 2022, Norway earned five times more from the sale of oil and gas compared to previous years, thanks...

Dragan Džajić The New President Of The Football Association Of Serbia

Dragan Džajić, one of the best football players from this area of ​​all time, was elected unanimously, with 78...

55th International Car Show Opened

The International Car Show, 55th in a row, opened in Belgrade and has gathered 250 exhibitors who will present...

Serbia Is Spain’s Main Foreign Trade Partner In The Western Balkans

Serbia is the main foreign trade partner of Spain in the Western Balkans and is responsible for more than...

Đukanović And Milatović In The Second Round Of Presidential Elections In Montenegro

According to preliminary data from the Montenegrin Monitoring Center (CeMI), based on 95.5 per cent of the processed sample,...

In 2022 Norway Earned Five Times More From The Sale Of Oil And Gas

In 2022, Norway earned five times more from the sale of oil and gas compared to previous years, thanks...

Dragan Džajić The New President Of The Football Association Of Serbia

Dragan Džajić, one of the best football players from this area of ​​all time, was elected unanimously, with 78...