PKS chief: Foreign investors shun uncertainty

Serbian Chamber of Commerce (PKS) President Miloš Bugarin says Serbia cannot expect investors to expand their production in an uncertain political situation.

Izvor: Tanjug

Friday, 06.07.2012.

11:46

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Serbian Chamber of Commerce (PKS) President Milos Bugarin says Serbia cannot expect investors to expand their production in an uncertain political situation. He underlined that a new government should introduce measures to tackle illiquidity in its first months in office. PKS chief: Foreign investors shun uncertainty “There should be no political uncertainty -that is the first and foremost condition for a foreign or Serbian company to start investing in the economy. Serbia has been facing political uncertainty for more than 60 days. We have the caretaker government which is dealing with operational matters only, so foreign investors cannot be expected to expand their production in such climate,” Bugarin told Radio Television of Serbia (RTS). “It is hard to deliver an estimate as to what are the losses incurred by a delay in the formation of a new government, but it is evident that there are losses, as well as that indirect costs are great,” he said. Bugarin recalled that the PKS had adopted a new concept of economic policy from 2012-2016, which encompasses 87 recommendations for the new government. “Tackling illiquidity should be one of the first measures to be introduced by the new government,” he noted, adding that the bill on payment deadlines should also be passed. “In the first quarter of 2012, Serbia saw a drop of 1.3 percent in economic activity, a slide of 5.9 percent in industrial production, a rise of the public debt to around EUR 24bn,” the PKS president warned earlier. Milos Bugarin (Beta, file) Tanjug

PKS chief: Foreign investors shun uncertainty

“There should be no political uncertainty -that is the first and foremost condition for a foreign or Serbian company to start investing in the economy. Serbia has been facing political uncertainty for more than 60 days. We have the caretaker government which is dealing with operational matters only, so foreign investors cannot be expected to expand their production in such climate,” Bugarin told Radio Television of Serbia (RTS).

“It is hard to deliver an estimate as to what are the losses incurred by a delay in the formation of a new government, but it is evident that there are losses, as well as that indirect costs are great,” he said.

Bugarin recalled that the PKS had adopted a new concept of economic policy from 2012-2016, which encompasses 87 recommendations for the new government.

“Tackling illiquidity should be one of the first measures to be introduced by the new government,” he noted, adding that the bill on payment deadlines should also be passed.

“In the first quarter of 2012, Serbia saw a drop of 1.3 percent in economic activity, a slide of 5.9 percent in industrial production, a rise of the public debt to around EUR 24bn,” the PKS president warned earlier.

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