Serbia is facing the third phase of economic transformation, News
The Prime Minister of Serbia, Ana Brnabic, pointed out tonight that Serbia has gone through two phases of transformation from 2014 until today, and that now the new government should start with the third phase, which, among other things, includes digitalization and bio-technology.
Brnabic said that this government leaves three important strategies for the future: the strategy of new industrial development, the strategy of development of artificial intelligence and the strategy of digitalization.
She reminded that the previous two phases were: the first, which began in 2014, when the current president Aleksandar Vucic took responsibility for how people live in this country.
At that time, she added, Serbia was on the verge of bankruptcy, youth unemployment was over 50 percent, uncontrolled inflation, the dinar exchange rate went from 85 to 120, and the country was unbelievable and the situation in the domain of foreign policy was difficult.
In that first phase, the country had to be stabilized, public finances had to be put in order, public debt below 60 percent had to be reduced and then debt had to go below 45 percent, and he managed to do that with strong fiscal consolidation measures, Brnabic said.
The second phase of the transformation, she said, began in 2017 when she became prime minister.
I took over the government with a stable budget and unemployment of around 14%, but I knew that it would be in single digits by the end of my term. Then, President Vucic and I realized that digitalization is the most important. In four years, we jumped by fifty places on the Doing Business list, Brnabic pointed out, Srbija Danas reports.
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