Serbia's economy in 2010 will mark a slow growth of 1.6 percent, and the moderate recovery will continue in 2011, when the 2.9 percent growth is expected, lead economist at the European Bank for Reconstruction and Development (EBRD) Peter Sanfey stated on Wednesday. Presenting the EBRD's Transition Report, Sanfey pointed out that, during the economic crisis, the Serbian government and the National Bank of Serbia (NBS) managed to preserve the country's macroeconomic stability.
He stressed that the first EBRD's projection of 7.7 percent inflation in Serbia in 2010 now seems optimistic, as it is certain that the price increase will exceed eight percent, which, as Sanfey said, is not a reason for concern. According to Sanfey, investors specified corruption, tax administration and insufficiently trained work force as the biggest problems in the business environment in Serbia.
Sanfey stressed that Serbia's short-term macroeconomic results are good, but that their improvement in the mid-term requires the implementation of certain structural reforms which imply the continuation of the EU integration and the harmonization of the Serbian legislature with the EU legal framework.
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