Most Sofia bourse indices fall, Fibank paces blue-chip losers
UPDATE 1 - Bulgarian regulator okays 6.5% hike in Dec natgas price
Zarneni Hrani Bulgaria boosts 9-mo cons net profit, revenue falls
Fitch reaffirms Euroins Insurance Group at B+, outlook stable
Croatia's competition watchdog opens probe into Cakovecki Mlinovi, Tvornica Stocne Hrane
Nov 24, 2007 15:44 EEST
BELGRADE (Serbia), November 24 (SeeNews) – Serbia’s Economy Minister Mladjan Dinkic has said the country's gross domestic product (GDP) will grow by 7.5% this year, faster than an earlier Finance Ministry forecast of around 7.0% and the 5.9% growth target set in the 2007 budget bill, Belgrade-based daily Danas reported on Saturday.
Serbia's GDP-per-capita will reach $5,500 (3,800 euro) this year, Danas quoted Dinkic as telling an international conference on small and medium-sized enterprises in Belgrade. Government statistics put Serbia's GDP-per-capita at little over $4,000 (2,700 euro) in 2006.
Serbia's central bank has recently forecast a 6.1% rise in GDP in the third quarter after the country's economy grew by 7.7% in the second quarter and by 8.4% in the first quarter.
GDP growth slowed to 5.7% last year from 6.2% in 2005. The government targets an average economic growth of 6.3% a year by 2010.
Serbia must accelerate structural reforms to enhance development of entrepreneurship, because only small and medium-sized enterprises can increase employment in the country, said Dinkic. The country needs to speed up company registration procedures to 24 hours from 14 days now to give a boost to its entrepreneurs, he added.
Currently, 95,000 firms are registered in Serbia, of which 99% are SMEs, and these employ 60% of the labour force and generate 50% of the GDP.
($ = 0.674 euro)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options