Dacic announces capital market reform

Shortly before the investment forum in London started, Serbian Prime Minister Ivica Dacic visited the London Stock Exchange where he announced a more profound reform of the Serbian capital market.

Dacic said that the government was firmly focused on economic reforms, estimating that investments which can change the country’s economic milieu in the quickest possible way were portfolio investments.

Therefore, he said, Serbia will, in a short period of time, start deepening the reform of the capital market and its institutions.

- The moment the work was started, we clearly stated we were planning to change the economy of Serbia systematically, to strengthen it, and open it to the world and all markets where there is a mutual interest. We are aware that without the capital market, we cannot implement this – Dacic said.

The prime minister said that savings and attracting of local investments would also be encouraged through the exchange while the listing of state debts at all levels of the state, from municipalities and towns, through province, to Serbia, would provide safety instruments for the market.

- At the same time, state-owned companies, a source of constant budget misbalance, will go public. We will fix their management and stimulate it using exchange-related financial instruments – Dacic announced.

According to him, the Serbian parliament will soon adopt the Law on Term Market, given the Serbian economy structure where agriculture takes a significant place.

- With these measures, our country has the biggest potential for the capital market increase in the region – Dacic estimated, adding that these measures must be a stimulus for foreign investors to invest in securities and financial derivatives in the Serbian market.