Sarajevo hosted the annual meeting of the European Bank for Reconstruction and Development (EBRD). It attracted political and economic stakeholders of the Balkan region.
In November 2018, German car giant Volkswagen announced the opening of a big car factory, which would be the main plant for the production of various car models in the Central and Southeast Europe.
The West has long eyed Russia as its chief rival in the Western Balkans, but it should look closer at China. The EU is responsible for more than 60 per cent of the total FDI, Chinese FDI remains low, accounting for only 3 per cent.
Recent celebration of ten years of the Vienna Initiative was another reason for the deeper financial integration of the emerging European countries. Vienna Initiative is a framework for safeguarding the financial stability of emerging Europe.
During the 26th Kopaonik Business Forum the main topic was the condition of Serbian economy ten years after the great global economic crisis. Serbia needs 185 years to reach an average purchasing power of the EU if its economic growth rate stays the same.
Without several reforms Serbia will not be able to develop its economy. The rule of law and control of corruption are one of the biggest economic problems.
Last year, Serbia became the world leader in the increase of the production of crude steel with a growth rate of 38.9 per cent, according to the World Steel Association data. Serbia produced 1.8 million tons of raw steel during the 11 months of 2018
In 2018, the Komercijalna banka (Commercial Bank) in Serbia achieved the best results in the past ten years, as it expects a profit of about RSD8.3 bn (over EUR70m). The bank has reversed the trend of declining market share.
The position of young people on the Serbian labor market is extremely unenviable. It’s hard to find a job and they rarely have the opportunity to get a permanent one.
In the first three quarters of 2018, CSE’s combined exports to China totaled USD17.6bn, a record high and up by over 20 per cent y/y. But the region has been racking up a large trade deficit with the Asian nation.