Serbian Finance Minister Siniša Mali announced today that direct foreign investments in Serbia reached 4.5 billion euros in 2023. He emphasized that Serbia’s share of regional investments is now at 60%, a testament to the country’s successful government reforms.
Mali highlighted that Serbia’s attractiveness and competitiveness have significantly improved over the past 12 years due to ongoing reforms, salary increases, pension hikes, and substantial infrastructure investments. He projected that Serbia’s GDP could hit 100 billion euros by the end of 2027, compared to 30 billion euros a decade ago.
Despite the progress, Mali acknowledged that the country is still managing its public debt prudently, with the debt-to-GDP ratio below 50%. The budget account holds more than six billion euros, marking a historical high.
Mali noted that while challenges remain, the current economic situation is much improved from 12 years ago. He criticized the previous administration for leaving behind a legacy of high unemployment and low wages, contrasting it with the current minimum wage increase from 15,700 dinars to 47,174 dinars.
The Minister assured that pension increases would continue, with a projected rise of at least 10% by the end of the year, on top of the 14.8% increase already implemented. He also noted that the average salary is expected to exceed 1,000 euros in December, with record employment levels and numerous new factories and road infrastructure projects.
Addressing opposition claims about the average salary, Mali stressed that the average salary is a more accurate indicator of living standards than the median salary. He pointed to available databases for the most precise employment and taxation data, underscoring the substantial improvements since 2012.
