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.
Serbia is the first country ranked in the IBM Global Positioning Trends Report based on the number of jobs created by foreign direct investment (FDI).
China has intensified its presence in the Balkans, especially in Serbia, since the beginning of the year. Serbia is a strategic target as its position is very important in transport infrastructure in Southeast Europe.
The next year Poland will host an important event — the EU-Western Balkan summit. The goal is to provide some solutions to existing socio-economic problems and to further strengthen cooperation between Balkan states.
The Serbian Minister of Commerce, Tourism and Telecommunications, Rasim Ljajić predicts that the 40 per cent fall of value of the TRY cannot be without consequences for Serbia and will have its effect on prospective investors.
In 2015, the Serbian government adopted the National Program for Suppression of the Shadow Economy, which may be one of the largest in Europe.
The Chinese investments in Serbia show considerable Chinese interest. Despite a limited number of investments it is likely that new ones will come, especially in the infrastructure, as a part of the Chinese One Belt, One Road Initiative.