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Setting Serbia on the Path to Growth: The First 100 Days
Mr Vucic and his Government highlight that the economy remains their first priority. During the first 100 days, an extensive package of reforms to remove hurdles to business, stimulate growth and set Serbia on a path to long-term fiscal sustainability has been implemented.
Prime Minister Aleksandar Vucic said
Key new measures adapted over the past 100 days include:
Priorities for the coming months will include improving liquidity through special 'bad loan' funds, tackling the gap in public finances with a privatization programme and restructuring of state enterprises as well as continued efforts to fight the grey economy, tax evasion and illegal trading. On the international stage, Serbia is working towards its ambitious goal of EU membership by 2020.
The Republic of Serbia is located at the crossroads of Central and South-Eastern Europe with a population of 7.12 million. Serbia became a stand-alone sovereign republic in the summer of 2006. The capital of Serbia and the country's administrative, economic and cultural centre is Belgrade , with a population of 1.64m.
Serbia is the biggest and most diversified economy in the region with a GDP of €35.28 billion. This is predicted to grow at an average annual rate of 5.8% until 2020 under the current Government's programme focused on investment growth.
With a corporate tax rate of 10% - the lowest in Europe - Serbia offers an attractive business environment and the volume of foreign direct investment (FDI) is growing rapidly.
In the first quarter of 2013, FDI inflow was €330m compared to €180m in the same period of 2012. During the same period, there was also a 25% increase in exports.
For more information on Serbia, please visit: http://www.serbiaineurope.com/