"Serbia should continue privatizations"

Head of the EU Delegation to Serbia Vincent Degert said on Thursday that Serbia should continue privatizing state-owned companies. Presenting the economic section of the European Commission report on Serbia's progress in European integration, Degert said that it was good that Telekom Srbija would be sold and added that the Electric Power Industry of Serbia, Serbian Railways, air carrier Jat Airways and other state companies should also be privatized. "Serbia should continue privatizations" Degert went on to say that the report highlighted Serbia's arrangement with the International Monetary Fund as a positive economic achievement, adding that the EU and the IMF both insist on the implementation of adopted rules on fiscal responsibility. Degert also pointed out that Serbia must make better use of its advantages, mentioning agricultural production and the automobile industry as fields that could be used for better positioning in the European market. Serbia has made economic progress despite the unfavorable consequence of the crisis, but it has to change its economic development concept in view of boosting exports growth, continue with the economic restructuring, privatization of public enterprises and cooperation with the International Monetary Fund (IMF), and begin the restitution process, Degert said on Thursday. He said that it is important for the country to show that it is committed to the economic restructuring, which is a rather long process, but stressed that if after two to three years the process shows to be still in its initial phase, this will not be a good signal for investors from the EU, or for the overall image of Serbia, which aspires to become an EU membership candidate country. The restitution process is very important not only for Serbia, but also for foreign investors, who want to know if the property issues have been resolved at the time they plan to invest in real-estate, and there is also the issue of respecting human rights of the original real-estate owners who have not been given back their property, the EU Delegation chief underlined. Serbia's cooperation with the IMF is of considerable importance, as it sends a positive message to potential and current investors from abroad that the country's economy is reliable for doing business in, so that the cooperation with the Fund should continue, Degert said. Vincent Degert (Beta)

"Serbia should continue privatizations"

Degert went on to say that the report highlighted Serbia's arrangement with the International Monetary Fund as a positive economic achievement, adding that the EU and the IMF both insist on the implementation of adopted rules on fiscal responsibility.

Degert also pointed out that Serbia must make better use of its advantages, mentioning agricultural production and the automobile industry as fields that could be used for better positioning in the European market.

Serbia has made economic progress despite the unfavorable consequence of the crisis, but it has to change its economic development concept in view of boosting exports growth, continue with the economic restructuring, privatization of public enterprises and cooperation with the International Monetary Fund (IMF), and begin the restitution process, Degert said on Thursday.

He said that it is important for the country to show that it is committed to the economic restructuring, which is a rather long process, but stressed that if after two to three years the process shows to be still in its initial phase, this will not be a good signal for investors from the EU, or for the overall image of Serbia, which aspires to become an EU membership candidate country.

The restitution process is very important not only for Serbia, but also for foreign investors, who want to know if the property issues have been resolved at the time they plan to invest in real-estate, and there is also the issue of respecting human rights of the original real-estate owners who have not been given back their property, the EU Delegation chief underlined.

Serbia's cooperation with the IMF is of considerable importance, as it sends a positive message to potential and current investors from abroad that the country's economy is reliable for doing business in, so that the cooperation with the Fund should continue, Degert said.