Minister: Reforms are political decisions

Attracting investment is one of the most important elements of Serbia's development that has made a political decision to enter reforms, Željko Sertić says.

Izvor: Tanjug

Friday, 10.10.2014.

16:10

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Minister: Reforms are political decisions

"You have to be responsible and capable of attracting investors. In this sense, the political decision to enter reforms is very important, "said Sertić.

Noting that Thursday's opening of a new plant of Tigar Tyres is an example of good investment, Sertić said that domestic investments are also important.

At this point it is important, Sertić said, that the government stands ready to accept and implement all constructive economic proposals.

Current economic indicators are poor, and they call for hard work and good decisions, he said.

Problems in the EU are affecting the Serbian economy, he said, adding that the IMF forecasts that overall growth in the eurozone this year will reach 0.8 percent, which is below the average and insufficient to make economy grow, particularly in the Balkans.

He also said that the May floods have further reduced GDP by one percentage point.

"We have to take into account the quality of the labor force and the institutions that yield good experts," he said, adding that these are technological faculties, especially the IT sector.

As a particular economic problem, he pointed to public enterprises and noted that the EC report reads that great changes are expected in this respect.

Economy would be much more effective if Serbia had different public administration, he said, adding that there is great dissatisfaction with the operation of inspection bodies.

"There is no possibility to control the black market. People can not report anyone who is not paying workers and makes up direct competition to those who are working legally," the minister said.

The government should be strong to solve the problem of the gray economy, Sertić said, meniong as an example a former director of the Krušik factory "who did not pay salaries to workers, while he bought himself a car worth around EUR 70,000."

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