BELGRADE – Serbia has embarked on a period of dynamic growth, Serbian Prime Minister Aleksandar Vucic said Friday, adding that he does not know what kind of a miracle in the region or the world it would take to stop that growth.

Photo: Supplied
Photo: Supplied

“By 2020, Serbia will not be in recession,” Vucic said at a conference on continuing the economic reforms, organised by the National Alliance for Local Economic Development (NALED).

The government’s reform moves laid a solid foundation last year, Vucic said, adding that Serbia’s key economic problems are a lack of entrepreneurial spirit, state-protected companies and the grey economy.

Along with privatisation, it is important to continue the restructuring of public enterprises, adopt business plans for the national electric power company EPS that will be approved by the World Bank and the IMF, and restructure the Srbijagas company, Vucic said.

Only when Serbia climbs to 45th from the current 59th position on the World Bank’s Doing Business list will the government be satisfied, he noted.

Serbia’s Construction Minister Zorana Mihajlovic has said that in 2016 Serbia will be among the top 30 countries on the World Bank’s Doing Business list which ranks economies on their ease of doing business.

“I will not be pessimistic as PM Aleksandar Vucic (who said that Serbia would be among the top 45), and I expect that we will be among the top 30, as this is quite feasible,” Mihajlovic said at the presentation of NALED’s Gray Book at the Yugoslav Film Archive building on Friday.

She noted that in 2015, Serbia had the best ranking (59th) in the last nine years, but added that it should not stop with that.

Serbia started implementing the law on planning and construction last year, issuing e-building permits in 2016, so this objective of soaring into the top 30 most business- friendly places in the world is quite realistic, she concluded.