Four important economic events ahead of us

As the end of the year approaches, the forecasts for the global and domestic economy in 2024 are increasing. In Serbia, inflation and economic growth of around three percent are expected. Here are four economic forecasts/developments for the period ahead of us.

Economists: In 2024, the economy will grow by three percent, with inflation at around five percent

Serbia’s economic growth in 2024 will be around three percent, while inflation should slow down to around 4.5 to 5 percent, according to researchers of the Foundation for the Development of Economic Science (FREN) of the Faculty of Economics in Belgrade. There is still uncertainty in terms of geopolitical developments because it is very difficult to assess which direction they take.

The main drivers of economic growth in the coming year will be the growth of real incomes, declining inflation and the growth of productivity, as well as the mild economic recovery of the European Union. On the other hand, high interest rates will slow down growth.

Delta bought the Rad Company, which has been bankrupt for 22 years

Delta Holding’s subsidiary, Delta Nekretnine, bought the Belgrade-based construction company Rad for about 954.3 million dinars.

At the previous public auction, the starting price was 1.36 billion dinars, but there were no interested buyers, said the Agency for Licensing Bankruptcy Administrators (ALSU).

Delta bought the company at the initial price and thus became the owner of, among other things, office space in Milentija Popovića Street in Novi Beograd, seven retail spaces also in Belgrade, as well as several apartments in the capital, Bor, Pančevo, and Skopje.

Higher civil servant salaries and pensions in June

Since January this year, salaries in the public sector have gone up by 10 percent, pensions by 14.8 percent and minimum wages by 17.8 percent. Recently, Serbian Finance Minister, Siniša Mali, announced another increase in civil servant salaries and pensions which will take place in June 2024.  

According to government projections, in December, the average gross salary in Serbia will be between 830 and 840 euros, the average pension after the January increase will be 390 euros, and the minimum wage will exceed 400 euros.

“We want to fulfil our promise regarding salaries and pensions, that is to have an average monthly salary of 1,400 euros and an average pension of 650 euros by the end of 2027,” Mali said.

How rich are so-called crypto kings?

He may be headed to prison next year after pleading guilty to United States (US) criminal charges in November, but 2023 has been financially rewarding for the former Binance Holdings Ltd. CEO Changpeng Zhao, as his estimated wealth has increased by nearly $25 billion this year.

Towards the end of the year when bitcoin recovered more than 160 percent after the 2022 market collapse, Zhao topped the list of crypto-entrepreneurs with a net worth of $37 billion in 2023, according to the Bloomberg Billionaires Index. CEO of Coinbase Global Inc. Brian Armstrong and brothers Cameron and Tyler Winklevoss are also on the list.

(Bloomberg Adria, 27.12.2023)

This post is also available in: Italiano

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