Minister: IMF thinks Serbia achieved "incredible result"
The IMF and the World Bank have assessed that Serbia has achieved an incredible result by reducing its public debt.
Source: Tanjug
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(Tanjug)
Speaking for Tanjug, he recalled under the Maastricht criteria, the public debt should not exceed 60 percent of GDP.
Mali said that only a few years back, in 2014, Serbia's public debt was mover 70 percent of GDP, to be at 50.8 percent at the end of March this year.
"We accomplished that during the time of financial consolidation. Recently I had an opportunity to speak about this at the London Stock Exchange, where 300 of the largest investors in central and eastern Europe heard the results of our reform. They were impressed by how we managed to achieve growth in spite of the consolidation and a reduction of salaries and pensions," Mali said
The minister stressed that reducing the public debt is a part of a responsible economic policy aimed at "not leaving costly loans and high indebtedness of the country to our children."
He added that, in contrast, the previous authorities left the country on the brink of bankruptcy.
The IMF and the World Bank also predict that Serbia will be the carrier of economic growth in the region, with a cumulative growth that will at the end of 2023 be 21.1 percent higher than in 2018.
According to the forecasts of international financial institutions, the Serbian economy will in the next five-year period grow by four percent a year on average - with none of the countries it borders having higher cumulative growth.
The IMF predicts GDP per capita in 2023 to reach USD 10,394 - an increase of 44 percent from USD 7,207 in 2018.
Marika.....not sure that China is using Serbia just as cheap labour. There are reasons why China investing in Serbia. Perhaps they view Serbia as being more flexible than an EU country. EU nations are bound by strict laws and rules. Secondly Serbia and China are (and have been) on good terms for some time now. I also assume that whatever is produced in Seria is bound for the European markets. This is a huge saving on transport costs.
If it was just "cheap labour" the Chinese would have gone to Albania.....
(VIEW FROM UK, 2 May 2019 10:42)
@Marika, sources???
So let me get this straight, 7.5 million Serbs are being used as "cheap labour" for 1.3 billion Chinese?
Wow, you're clearly a genius, lol
(Pigs fly?, 2 May 2019 03:34)
This is indeed a fine result, however continuing sound economic policies and management is required in order to achieve and maintain strong levels of economic growth and development. Again, well done Serbia.
(ST, 2 May 2019 01:20)
It is interesting to note that Serbia had a per capita of $7200 in 2018, whereas, China had one of $9000. From this we can conclude that China is using Serbia as a source of cheap labor, why else would China “invest” in Serbia.
(Marika, 1 May 2019 18:30)
ISIS stands with Albania.....very well said. Just to add to your post.....if the Albanians in Kosovo stopped with their land thieving ways, they too could be part of the success story.
(VIEW FROM UK, 1 May 2019 14:44)
Well done to Serbia!! More investment, more infrastructure and more jobs!! In the meantime, kosovaaah** is still in abject poverty and isolation with no prospect for improvement.Hope the albos are enjoying lining up at foreign embassies for a travel visa to escape their wonderful land of freedom lol.
(ISIS supports albania, 1 May 2019 14:04)
ISIS stands with Albania.....very well said. Just to add to your post.....if the Albanians in Kosovo stopped with their land thieving ways, they too could be part of the success story.
(VIEW FROM UK, 1 May 2019 14:44)
Well done to Serbia!! More investment, more infrastructure and more jobs!! In the meantime, kosovaaah** is still in abject poverty and isolation with no prospect for improvement.Hope the albos are enjoying lining up at foreign embassies for a travel visa to escape their wonderful land of freedom lol.
(ISIS supports albania, 1 May 2019 14:04)
This is indeed a fine result, however continuing sound economic policies and management is required in order to achieve and maintain strong levels of economic growth and development. Again, well done Serbia.
(ST, 2 May 2019 01:20)
@Marika, sources???
So let me get this straight, 7.5 million Serbs are being used as "cheap labour" for 1.3 billion Chinese?
Wow, you're clearly a genius, lol
(Pigs fly?, 2 May 2019 03:34)
Marika.....not sure that China is using Serbia just as cheap labour. There are reasons why China investing in Serbia. Perhaps they view Serbia as being more flexible than an EU country. EU nations are bound by strict laws and rules. Secondly Serbia and China are (and have been) on good terms for some time now. I also assume that whatever is produced in Seria is bound for the European markets. This is a huge saving on transport costs.
If it was just "cheap labour" the Chinese would have gone to Albania.....
(VIEW FROM UK, 2 May 2019 10:42)
It is interesting to note that Serbia had a per capita of $7200 in 2018, whereas, China had one of $9000. From this we can conclude that China is using Serbia as a source of cheap labor, why else would China “invest” in Serbia.
(Marika, 1 May 2019 18:30)
It is interesting to note that Serbia had a per capita of $7200 in 2018, whereas, China had one of $9000. From this we can conclude that China is using Serbia as a source of cheap labor, why else would China “invest” in Serbia.
(Marika, 1 May 2019 18:30)
ISIS stands with Albania.....very well said. Just to add to your post.....if the Albanians in Kosovo stopped with their land thieving ways, they too could be part of the success story.
(VIEW FROM UK, 1 May 2019 14:44)
Well done to Serbia!! More investment, more infrastructure and more jobs!! In the meantime, kosovaaah** is still in abject poverty and isolation with no prospect for improvement.Hope the albos are enjoying lining up at foreign embassies for a travel visa to escape their wonderful land of freedom lol.
(ISIS supports albania, 1 May 2019 14:04)
@Marika, sources???
So let me get this straight, 7.5 million Serbs are being used as "cheap labour" for 1.3 billion Chinese?
Wow, you're clearly a genius, lol
(Pigs fly?, 2 May 2019 03:34)
This is indeed a fine result, however continuing sound economic policies and management is required in order to achieve and maintain strong levels of economic growth and development. Again, well done Serbia.
(ST, 2 May 2019 01:20)
Marika.....not sure that China is using Serbia just as cheap labour. There are reasons why China investing in Serbia. Perhaps they view Serbia as being more flexible than an EU country. EU nations are bound by strict laws and rules. Secondly Serbia and China are (and have been) on good terms for some time now. I also assume that whatever is produced in Seria is bound for the European markets. This is a huge saving on transport costs.
If it was just "cheap labour" the Chinese would have gone to Albania.....
(VIEW FROM UK, 2 May 2019 10:42)