Serbia – a Balkan tiger in economy?

AP news agency sees Serbia as an economic “tiger” in the Balkans.

Izvor: B92

Thursday, 04.01.2007.

12:36

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Serbia – a Balkan tiger in economy?

Minister of International Economic Relations Milan Parivodić says his ministry has attained 95% of their goals so far, adding that the ultimate goal is to make Serbia a champion in reforms - a Balkan tiger. Parivodić said that the greatest achievements were in the field of economic and legal reforms. “We have received 4 billion euros of direct foreign investments, and expect another 2.5 billion this year. When 80% of the Serbian economy is in private possession of an entrepreneurial network, not monpolised by two or three people, we will be able to say that it is competitive and deserves the attribute of tiger. This is achievable in the next seven to ten years”, said Parivodić.

Some experts think, however, more Greenfield investments are required to make Serbia a tiger, since most has so far come from privatization. “Greenfield investments entail bringing foreign investors to Serbia and creating new production capacities and jobs with great domestic and foreign market potential. Therefore, it would take 2-3 billion dollars of predominantly Greenfield investments in the next few years to justly name Serbia a ‘Balkan tiger’ ”, said Jurij Bajec from the Macroeconomic Analyses and Trends Journal.

“Serbia’s major problem is that imports are twice as big exports. Boosting export volumes is of key importance to Serbia’s development. CEFTA (Central European Free Trade Agreement) offers great opportunities in that respect and it will make Serbia more attractive to foreign investors”, says Bajec.

The AP analysis concludes that growing nationalism is Serbia’s major impediment. The score is low for corruption and political instability, and high for workforce qualification and productivity.

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