Serbia propping up regional GDP table
Serbia, Moldova and Georgia trail the rest of the region in terms of GDP, says Euromoney magazine.
Tuesday, 15.01.2008.
15:28
Serbia, Moldova and Georgia trail the rest of the region in terms of GDP, says Euromoney magazine. At the opening of a Euromoney conference on central and eastern Europe, a company representative said that the GDPs of the three countries was 30 percent less than in 1989. Serbia propping up regional GDP table Euromoney Director Richard Ensor said that this was a result of a reduced flow of direct foreign investment. Ensor stressed that in 2007, central and eastern Europe had registered a record rise in GDP of an average of 7 percent, and that 1989 levels had been surpassed for the first time. “Last year, the region on average had a GDP nine percent higher than in 1989, before the fall of the Berlin Wall,” said Ensor, director of the company that owns the magazine. Over 1200 bankers, investors, economists, statesmen, businessmen and journalists are taking part at this year’s Euromoney conference on the economy and investment in central and eastern Europe. At the conference, Serbia will be represented by Deputy Economy Minister Nebojsa Ciric and World Bank country director, Simon Gray. Speaking at the conference, Ciric estimated that direct investment in Serbia in 2007 had come to around USD 4bn. The exact 2007 total will be known in May this year, the deputy minister told the Euromoney conference. He said that the projected level for 2007 was lower than 2006, when they reached a record level of USD 4.2bn thanks to a number of successful privatizations. “It’s encouraging that, besides income from privatization, constant and stable growth in Greenfield investment and in the construction of new factories has been recorded,” Ciric stressed. The deputy minister said that the rise in GDP was estimated at 7 percent in 2007. He added that this figure had risen from USD 4200 per head in 2006 to USD 5500 in 2007. He added that further growth and economic development would be boosted when the country received EU candidate status, which the government expects to happen at the end of this year.
Serbia propping up regional GDP table
Euromoney Director Richard Ensor said that this was a result of a reduced flow of direct foreign investment.Ensor stressed that in 2007, central and eastern Europe had registered a record rise in GDP of an average of 7 percent, and that 1989 levels had been surpassed for the first time.
“Last year, the region on average had a GDP nine percent higher than in 1989, before the fall of the Berlin Wall,” said Ensor, director of the company that owns the magazine.
Over 1200 bankers, investors, economists, statesmen, businessmen and journalists are taking part at this year’s Euromoney conference on the economy and investment in central and eastern Europe.
At the conference, Serbia will be represented by Deputy Economy Minister Nebojša Ćirić and World Bank country director, Simon Gray.
Speaking at the conference, Ćirić estimated that direct investment in Serbia in 2007 had come to around USD 4bn.
The exact 2007 total will be known in May this year, the deputy minister told the Euromoney conference.
He said that the projected level for 2007 was lower than 2006, when they reached a record level of USD 4.2bn thanks to a number of successful privatizations.
“It’s encouraging that, besides income from privatization, constant and stable growth in Greenfield investment and in the construction of new factories has been recorded,” Ćirić stressed.
The deputy minister said that the rise in GDP was estimated at 7 percent in 2007. He added that this figure had risen from USD 4200 per head in 2006 to USD 5500 in 2007.
He added that further growth and economic development would be boosted when the country received EU candidate status, which the government expects to happen at the end of this year.
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