WORLD BANK: Growth in Serbia faster than expected

World Bank Country Director for Southeast Europe Ellen Goldstein points out that Serbia registered a positive growth faster than expected, adding that, as a result, the region as a whole is growing.

Ellen Goldstein explains that all six countries in the Western Balkans are now reporting a positive growth, which was not the case in 2014, in the aftermath of catastrophic floods in Serbia.

Goldstein says that a very good news is that private investments are on a rise, citing Serbia as an example.

- Both public and private investments are important for the future so Serbia could have a sustainable growth based on exports to bigger markets - she said and added that the private sector in Serbia should be more productive, stressing that that called for a more thorough implementation of reforms.

As she noted, most of the countries in the region should focus on the improvement of investment climate, elimination of employment barriers, etc.

When it comes to the state itself, as Goldstein added, the size of the public sector is inappropriate, and there is also a problem of inefficiency.
The World Bank's latest estimate for this year is that Serbia's growth will reach 1.8% of GDP, which is also noted in the regional report of that finance institution.

Svetska Banka-WB Beograd

IFC

World Bank

Ellen Goldstein

private investment in Serbia