Serbia is the only country in the Western Balkans and the only EU candidate country with an investment-grade credit rating, making it a safe and secure destination for investment, Finance Minister SiniĊĦa Mali stated.
“Our public finances are in the best condition ever. If you look at the latest data from the third quarter of last year, Serbia is the second fastest-growing economy in Europe. Last year, we projected a growth rate of 3.8%, and this year, we are growing even faster,” he said during a panel discussion on financial instruments for supporting internationalization at the Serbia-Italy Business Forum, held today at the Serbia Palace. He added that Serbia’s goal for GDP is to surpass âĴ100 billion by 2027, coinciding with the hosting of Expo 2027.
He pointed out that Serbia’s public debt as a percentage of GDP is currently only 44.1%, while the average public debt in the Eurozone is 89%.
“What’s particularly important is that Serbia has the lowest unemployment rate ever and the highest employment rate. Last year, we saw almost âĴ5.2 billion in foreign direct investments, making us the absolute leaders in the region, as more than 60% of all foreign direct investments in the Western Balkans come to Serbia,” Mali emphasized. He also mentioned that between 2012 and 2017, Serbia underwent tough fiscal consolidation and reforms, after which the country experienced accelerated growth and industrialization.
This year, the country is aiming for a growth rate of 4.2%, with the unemployment rate currently standing at 8.1%. Twelve years ago, that rate was 25.9%, meaning that one in four people in Serbia was unemployed.
“Through responsible economic policies, we have reached historically the lowest unemployment rate, and the trend is heading further down. This is why we need new investments, new investors, and new opportunities, like this conference today,” Mali said.
He highlighted that Serbia is a record-holder in attracting foreign direct investments and expressed hope that Italian entrepreneurs will direct their business plans to Serbia in the near future.
“I would like to thank your foreign minister, who confirmed that Italy will participate in Expo 2027. This is the biggest event for us. Serbia will host the largest global event in 2027. But what is important for us is that we didnât just say Expo is coming, we will organize an exhibition, and thatâs it. No. We have defined a program called ‘Serbia 2027: A Leap into the Future,’ with an additional âĴ18 billion in six areas that will completely transform Serbia,” emphasized Minister Mali.
