All News on Economics in Serbia

Telekom will "definitely" be privatized - minister

Telekom will "definitely" be privatized - minister

BELGRADE -- Economy Minister Dušan Vujović has announced that Law on Bankruptcy, Privatization and Subsidies would be adopted in July.

He also said that the state-owned telecommunications company Telekom Srbija (Serbia) would "definitely" be privatized.

New law to improve consumer protection

BELGRADE - Under the new consumer protection law, consumers who have a complaint about faulty goods will be entitled to a refund, replacement or repair for six months after the purchase, and the refund will be provided within 30 days, Minister of Trade, Tourism and Telecommunications Rasim Ljajic said Monday.

NBS: Bank lending declines six quarters in a row

BELGRADE - Total bank lending to corporates and households continued to decline in the first quarter of this year, which is the sixth quarter in a row, the National Bank of Serbia (NBS) has announced.

Economy "heading for recession in July"

Economy "heading for recession in July"

BELGRADE -- Recent floods will have a negative impact on the economic activities in the country, and Serbia is expected to move into recession early in July.

Serbia's economy heading for recession in July

BELGRADE - Recent floods will have a negative impact on the economic activities in the country, and Serbia is expected to move into recession early in July, while inflation will not remain within the target band due to expected increase in prices of foods and services, Sasa Djogovic, associate of the Belgrade Institute for Market Research (IZIT), stated on Thursday.

Krstic: New contribution rates to come into effect August 1

BELGRADE - Finance Minister Lazar Krstic said Wednesday that the government of Serbia passed an amendment to postpone the implementation of the amended rates for pension and disability insurance contributions by one month, to August 1.

IMF: Negotiations with Serbia to resume this fall

BELGRADE - The International Monetary Fund (IMF) will resume talks with Serbia in the fall, and not after a new government is formed, as planned earlier, IMF Office in Belgrade released on Wednesday.

More than EUR 2 million on Finance Ministry's accounts

BELGRADE - More than EUR 2 million and RSD 1 billion have been paid so far into the special accounts set up by the Serbian Ministry of Finance to collect donations for the flood affected areas.

According to the data available at 5 p.m. Monday, the foreign currency a ccount totaled EUR 1,702,522; USD 261,122; CHF 14,960; RUB 1 million, and smaller amounts in other foreign currencies.

Employer who employs 10 people will get tax benefits

Employer who employs 10 people will get tax benefits

The law on citizens’ income tax, the debate on changes of which began in the Parliament yesterday, shall be in force as of June 2016. Employers who until then employ up to nine people shall be exempt from payment of 65 percent of the tax.

Average net salary in April is RSD 45,847

BELGRADE - The average net salary in Serbia paid in April 2014 amounted to RSD 45,847, an increase of 5.7 percent in nominal terms and 5.1 percent in real terms against March, the Statistical Office of the Republic of Serbia said in a release on Monday.

Fiscal Council: Proposed tax relief for employers no good

BELGRADE - The proposed changes stipulating that employers will be temporarily exempt from paying a part of the income tax and contributions for newly hired people will not help resolve the issue of unemployment or deliver a major blow to the grey economy.

Corruption Hampers Bulgaria's Economic Growth – IMF

Economic growth in Greece, Bulgaria, Romania and Hungary are hampered by corruption, according to Aasim Husain, Deputy Director in the European Department of the IMF.

Verheijen signals World Bank's assistance in damage repair

BELGRADE - The World Bank (WB) could approve to Serbia grants-in-aid worth several hundred thousand dollars for the repair of the damage, said World Bank Country Manager for Serbia Tony Verheijen on Tuesday.

Paunovic at UN: Serbia respects its obligations

BELGRADE - Director of the Serbian government’s Human and Minority Rights Office Suzana Paunovic presented before the UN Committee on Economic, Social and Cultural Rights a periodical report on the implementation of the International Covenant on Economic, Social and Cultural Rights on Friday.

Investigation started against suspected people smugglers

BELGRADE - The Office of the Prosecutor for Organised Crime launched on Thursday an investigation against 10 people suspected of smuggling migrants through Serbia and into Hungary and proposed that most of them be placed in custody.