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.
The 2019 Economic Freedom Report by The Heritage Foundation shows that the world seems to be at a crossroads — it may continue on the path of economic freedom or it may return to hindered growth and development.
Against the background of deteriorating relations between the United States and China, the European Union's strong economic ties with the two countries pose a serious dilemma.
In December 2018, the National Assembly of the Republic of Serbia adopted the state budget for 2019. The GDP growth is projected to be 3.5 per cent, and the budget deficit is estimated at 0.4 per cent of GDP.