EBRD urges accelerated reforms

Serbia's economic reforms have slowed down in 2007, the European Bank for Reconstruction and Development (EBRD) said Monday.

Izvor: B92

Monday, 26.11.2007.

14:19

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Serbia's economic reforms have slowed down in 2007, the European Bank for Reconstruction and Development (EBRD) said Monday. But, taking a medium and long term view, the country has major potential for speedy economic growth and a strong attraction of foreign investments, the bank's experts said. EBRD urges accelerated reforms EBRD representative Peter Sanfey said at a presentation of bank's Transition Report 2007 that the crucial challenges which Serbia would be faced with, if it wishes to achieve economic growth, are restructuring and privatization of companies. This, according to him, also includes "improvement of the diplomatic climate", as well as getting closer to the EU standards. At a conference held at the National Bank of Serbia (NBS), he underlined that in spite of the progress achieved in the past six to seven years, Serbia is still "way behind many other countries in transition, so that it has no time to lose in carrying out economic reforms." Beta also quoted Sanfey as saying that "some companies in Serbia have monopolies in the market", but the agency did not elaborate.

EBRD urges accelerated reforms

EBRD representative Peter Sanfey said at a presentation of bank's Transition Report 2007 that the crucial challenges which Serbia would be faced with, if it wishes to achieve economic growth, are restructuring and privatization of companies.

This, according to him, also includes "improvement of the diplomatic climate", as well as getting closer to the EU standards.

At a conference held at the National Bank of Serbia (NBS), he underlined that in spite of the progress achieved in the past six to seven years, Serbia is still "way behind many other countries in transition, so that it has no time to lose in carrying out economic reforms."

Beta also quoted Sanfey as saying that "some companies in Serbia have monopolies in the market", but the agency did not elaborate.

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