Vucic announces new investment cycle worth between 5 and 10 billion euro

While visiting the construction site on the Belgrade Waterfront development, Serbian President Aleksandar Vucic announced on Sunday (June 23rd) that the state would present a big new investment plan for the upcoming period, worth between 5 and 10 billion euro which would last four or five years.

“I believe that, with this cycle, we will be able to complete all the major capital projects and build the infrastructure in most of Serbia, from water supply and sewer systems to wastewater treatment facilities. We will invest in the subway system in Belgrade, but also in motorways, railways, Corridor 10, all the while making sure that these investments do not lead to higher public debt. Furthermore, we expect the GDP growth to be over 5 or 6%,” Vucic said.

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He explained that the state would devise a large investment plan that would cover the entire country and added that the Serbian authorities would cooperate with global institutions in preparing the plan.

“The results of our efforts on implementing economic reforms and bring order into public finances have been validated with the issuing of government euro-bonds in London. Serbia is now able to take out long-term loans, whether to refinance old debts or to fund new investments, at the interest rate of 1.6%,” Vucic said.

He reminded that Serbia had recorded a budget surplus for the third year in a row, regardless of the sudden large expenditures. The president also said that the works on the gas pipeline were going as planned.

While visiting the construction site, Vucic noted that the park in the Belgrade Waterfront development should open in mid-August. The park will span 2.7 hectares, and a total of two hectares have been developed so far. It will feature around 140 various types of trees and a 700-metre-long running track plus there will be a children playground, sports courts, table for table tennis and picnic area.

(Blic, 23.06.2019)

This post is also available in: Italiano

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