SES: “Speed of economic recovery in Italy and Germany is crucial for Serbia”
The President of the Association of Economists of Serbia (SES), Aleksandar Vlahovic, said today that the most important for Serbia is the speed with which the economy of the European Union (EU), especially that of Germany and Italy will recover, considering that two-thirds of trade and investment comes from EU countries.
“Serbia has two main trading partners in the EU – namely Italy and Germany – so the recovery of our country largely depends on the recovery of their economies,” said VlahoviÄ, announcing the This year’s Kopaonik Business Forum, hosted by SES from May 24-27. , which will be held at the Metropol Hotel in Belgrade in a hybrid format.
According to him, in addition to the support program and the traditional structure of the Serbian economy, this is the third factor that will dominate the growth of the Serbian economy this year.
Vlahovic also said that the fact that the decline of the Serbian economy is smaller than that of Europe is a consequence of its traditional structure where agriculture, industry, construction and energy are more resistant to disruption of global supply chains and not so dependent on the international market. .
The second reason is attributed to massive direct state intervention to help the business sector, which accounted for 11% of GDP last year, with the National Bank also playing an important role in its measures. Vlahovic added that Serbia will likely have economic growth of more than 5% this year, but will also have the largest budget deficit, which will reach 7% after the state budget revision.
This article is also available in: Italiano