Serbia has recorded a historic influx of foreign direct investments, totaling €5.1 billion, as announced by Finance Minister Siniša Mali. Speaking on TV Prva, Mali emphasized that this is the highest level of foreign investment the country has ever seen. He attributed this success to Serbia’s responsible economic policies, which have helped the country remain stable and attractive to investors despite global challenges such as the COVID-19 pandemic, the conflict in Ukraine, and the energy crisis.
Mali highlighted that every new investment leads to new factories and job creation, boosting income levels, wages, and government revenues. He further noted that Serbia’s strong economic performance is driving growth in employment and wages, with the country having one of the lowest unemployment rates in Europe.
In another announcement, Mali reported that 28 countries have confirmed their participation in the 2027 EXPO in Belgrade. These countries represent regions from Africa, Asia, Europe, and the Americas. Mali expressed his confidence that Serbia will host a record number of participants, surpassing the 117 countries that attended the 2017 Expo in Astana, Kazakhstan. The Expo will provide a significant opportunity to improve Serbia’s infrastructure and raise wages and pensions, contributing to long-term economic development.
The Expo, titled “Play for Humanity: Sport and Music for All,” will take place in Belgrade from May 15 to August 15, 2027. Mali noted that the construction site in Surčin, where the Expo will be held, is currently one of the largest construction projects in Europe, with 1,500 workers and 250 machines working daily to meet deadlines. He assured that the project will be completed on time and to the pride of all Serbian citizens.
Mali also praised Serbia’s performance in attracting foreign investments, which come from Europe, China, Japan, South Korea, and around the world. He pointed out that over 60% of investments in the Western Balkans are directed to Serbia, underscoring the country’s appeal as a stable and secure destination for investment. Serbia’s advanced digital economy also adds to its attractiveness for investors.
In terms of economic growth, Serbia ranks as the second fastest-growing economy in Europe for the first three quarters of 2024. Mali pointed out that the country’s successful economic policies, which focus on stability and peace, have positioned Serbia as a dominant economic force in the region.
Additionally, Serbia has seen a significant reduction in unemployment. The unemployment rate in 2012 was 25.9%, and it now stands at just 8.2%, with youth unemployment dropping from 50% in 2012 to 20% today.
Mali also shared updates on major infrastructure projects, including the construction of nine new highways, the completion of 30 kilometers of the Morava Corridor, and the opening of the Šabac-Loznica expressway. He stressed that infrastructure projects, as well as new hospitals and schools, will continue to improve the quality of life for Serbian citizens.
As the year draws to a close, Mali assured that Serbia has maintained macroeconomic stability, with the public debt-to-GDP ratio standing at 46.5%, well below the 50% threshold. He also highlighted Serbia 2027, a comprehensive initiative involving 323 projects worth around €18 billion that will transform the country within the next two years.
Looking ahead, Mali announced salary increases in the public sector starting January 1. Salaries will rise by 8% for all public sector employees and by 11% for educators. The minimum wage will also increase by 13.7%, reaching €457 per month, with plans to raise it to €650 in the coming years. The average salary in Serbia is expected to exceed €900, with a target of €1,400 by 2027.
