The Serbian government has approved a transfer of 10 million dinars to the Agency for Business Registers (APR) through the current budget reserve, as stated in the latest Official Gazette. The funds are intended to improve APR’s information system for registering temporary legal entities ahead of EXPO 2027.
According to APR’s revised financial plan, the improvement is required to establish a new register for Section Commissioner Offices. These offices will act as official representatives of countries participating in EXPO 2027 and must be temporarily registered in APR as domestic legal entities.
Despite the investment, questions remain about why the state is subsidizing APR, an institution typically self-funded. The financial plan clarifies the EXPO-related justification but does not explain broader financial difficulties the agency faces.
A sharp drop in APR’s profit in 2024 has raised eyebrows. Net profit plunged to just 4.8 million dinars, down from 124.2 million in 2023. While revenue increased slightly—from 1.47 to 1.53 billion dinars—expenditures rose faster, reaching 1.52 billion. Notable increases were recorded in salaries, procurement, and service costs.
Interestingly, despite higher wage costs, APR reported a reduced workforce: 418 employees in 2024, down from 428 in 2023.
From 2020 to 2023, APR maintained steady profits, peaking at 147.1 million dinars in 2022. According to the law, if APR’s expenses exceed income, the state covers the shortfall—explaining this year’s budget support.
Founded in 2004 with the help of international institutions, APR manages 25 public registers, including over 137,000 companies and hundreds of thousands of entrepreneurs, associations, media outlets, and other entities.
The agency also experienced leadership changes in October 2024. Bojana Stojmenović was appointed acting director after the previous director’s term ended. Prior to her appointment, Stojmenović worked for the state railway infrastructure company and is reportedly closely connected to influential SNS figure Tatjana Vukić.
