Serbia will bridge economic gap only in 2026

“In February, industrial production, exports and imports did not grow as much as in January, but have returned to a stable growth trend”, says Ivan Nikolic from the influential Macroeconomic Analyses and Trends (MAT) magazine.

“Also in February, the value of import amounted to 1.63 billion EUR, which is 12.5 percent more than in the same month of the previous year, and the value of export amounted to 1.22 billion EUR, or 6.7 percent more than in the same month of 2017” , said Nikolic.

He added that the foreign trade deficit of 415 million EUR was a third higher than in the same month last year. “It is good that products dominate in imports which is conducive to investments, and that only a small part of the overall imports are consumable goods,” Nikolic said.

The preliminary data show that there are no problems in public finances and that a budget surplus has been generated. Nikolic also said that the total industrial production in Serbia, at the end of last year, reached the highest level in the last 25 years, as did the processing sector.

“At the end of 2017, industrial production broke two records, one from 1997, which came about immediately after the sale of Telekom and the artificially boosted demand that lasted until March 1998,” Nikolic explained. 

“Serbia will have to wait for the year 2026 for its industrial production to finally bridge the transition gap,” Nikolic said. The growth of industrial production in Serbia, as he said, is characterized the constantly growing technological level, but that is not crucial for the faster economic growth.

He underlined that there were no uniform development solutions and that industrialization and technological development were not sufficient, but rather necessary prerequisites for the country’s economic growth.

(B92, 04.04.2018)

https://www.b92.net/biz/vesti/srbija.php?yyyy=2018&mm=04&dd=04&nav_id=1377470

 

 

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