Serbian economy in plus third year running

Serbian economy has recorded a positive net result for the third consecutive year. The business profit in 2017 stood at RSD 437.2 billion and was 2.3 times higher than the previous year’s – according to the Business Register Agency (APR) economic data for 2017.

Almost three-fifths of companies operated positively (59,131), which is 1,334 more than in the previous year, and the total net profit that they generated amounted to 666,561 million dinars (about 666.6 billion dinars).

On the other hand, 26,592 companies had a net loss of nearly 300 billion dinars (229,381 million dinars).

The growth of profitability was also boosted by the performance of public enterprises in 2017, which ended the year in profit.

576 public enterprises recorded a profit of around 29 billion dinars which is twice higher than last year.

421 companies recorded net profit, 135 companies net loss while 20 public companies did not disclose their results.

This mild recovery of the domestic economy started before 2017, said Ruzica Stamenkovic, from the Serbian Business Register.

“Companies have been profitable for the third year in a row, and in 2017, most of them recorded positive financial results. All the profitability parameters of companies are growing, and they indicate that their investments have been justified, and that they efficiently used their own and borrowed capital in generating profit”, explains Stamenkovic.

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The overall economy was bolstered thanks to the further implementation of fiscal and structural reforms, and its main drivers were increased investments and credit activity, as well as increased external trade, whereby imports grew more dynamically than exports (13.8 percent vs. 12 percent).

At the same time, inflation was stabilized at low 3.0%, while the national currency appreciated (at the end of 2017 compared to the end of 2016, the value of the dinar against the euro increased by 4.0 percent, and in relation to dollar by 15.4 percent). At the end of 2017, Serbia had a total of 141,942 registered companies.

(Politika, 19.06.2018)

http://www.politika.rs/sr/clanak/405793/Srpska-privreda-trecu-godinu-u-plusu

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