Click here for search results

Serbia

 Serbia

Shortcuts:

 brief description of the country 

 some basic statistics about the country 

 Serbian Governors to the World Bank Group 

 contacts at the World Bank 

 important institutions 

procurement figures by companies from Serbia 

 voting status 

 Serbian staff 

 constituency annual WBG commitments 


About the country

The country has changed its name from Yugoslavia (1929), the Federal Republic of Yugoslavia (1992), Serbia and Montenegro (2003) to the present Serbia (2006) due to political and territorial changes.

Advancing European integration is a stated priority of the government. Serbia is taking an active role in international and regional initiatives such as a member of the Energy Community of South East Europe, the Central Europe Free Trade Agreement, or the Stability Pact for South Eastern Europe. Serbia has ratified the Kyoto protocol and is expected to join the WTO soon. Since 2000, the country has achieved significant economic progress underpinned by macroeconomic stability and significant reforms. GDP per capita was 5'400 USD in 2007.

The World Bank Group has actively supported Serbia's transition since re-engaging in 2001. A new Country Partnership Strategy was approved by the Board in December 2007 for the period of 2008-2011. The assistance program is fully aligned with the government prioritie's and focuses on three key areas: (i) encouraging dynamic private sector-led growth to ensure that incomes continue to converge with European levels; (ii) providing opportunities and broadening participation in growth; (iii) preparing for potential environmental and other risks.

return to the top of the page

Basic facts

Capital

Belgrade

Independence

5 June 2006

Population

7,310,555 (2011)

Internet users

4.107 million (2009)

Surface area

77,474 sq. km (2010)

Language

Serbian

Chief of state

President Boris Tadic

Head of government

Prime Minister Mirko Cvetkovic

WB membership

02/25/1993

Currency

Serbian dinar (RSD)

GNI per capita

7448 US$ (2006)

GDP growth

1.8 % (2010)

Economy structure

Agriculture: 12.6% of GDP;
Industry: 23.4% of GDP;
Services: 73.2% of GDP (2010)

Time required to start a business

23 days (2007)

FDI

5.13 billion US$ (2006)

Official development assistance and official aid

1.58 billion US$ (2006)

return to the top of the page

Governors to the World Bank Group

Governor to the World Bank, Governor to MIGA

Mr. Mirko Cvetkovic

Prime Minister

Government of Serbia

Alternate Governor to the World Bank, Alternate Governor to MIGA

Ms. Verica Kalanovic

Deputy Prime Minister

Government of Serbia

return to the top of the page

Contacts at the World Bank

Advisor to Executive Director

Mrs. Biljana Chroneos-Krasavac

bchroneoskrasava@worldbank.org
Phone: +1 (202) 473 0293

return to the top of the page

Institutions related to the World Bank

Private Sector Liaison Office (PSLO), Serbian Chamber of Commerce

Ljiljana Miletic
23, Terazije Sq.
11000 Belgrade, Serbia
Phone: +381 11 324 8092
Fax: +381 11 324 8060

ljiljana.miletic@pks.co.yu
http://www.pks.co.yu

Ministry of Economy and Regional Development

Mr. Mladjan Dinkic, Minister of Economy and Regional Development
Bulevar Kralja, Aleksandra 15
Belgrade
Phone: +381 11 334 7230
Fax: +381 11 321 6736


Ministry of Finance of Serbia

Mrs. Dijana Dragutinovic, Minister of Finance
20 Kneza Milosa Street
11000 Belgrade, Serbia
Phone: +381 11 3614 007, 3614 606 Fax:+381 11 361 8961
kabinet@mfin.sr.gov.yu
http://www.mfin.sr.gov.yu

National Bank of Serbia

Mr. Radovan Jelasic, Governor
Kralja Petra 12
11000 Belgrade, Serbia
Phone: +381 11 302 7194
Fax: +381 11 302 7394

kabinet@nbs.yu
http://www.nbs.yu

WB Local Office

Mr. Loup Brefort, Country Manager
Bulevar Kralja Aleksandra 86-90
Belgrade, Serbia
Phone: +381 11 302 0702
Fax: +381 11 302 0705

Ngray@worldbank.org

click here for larger map of Serbia

Country Website

Country Brief

Serbia at a Glance

Data & Statistics

Serbia Country Partnership Strategy

Publications about Serbia

Constituency News and Events

 


Biljana Chroneos-Krasavac: To strengthen the export and macroeconomic stability
[interview by: Voice of America, June 21, 2010]

Serbia needs a new model of growth - Serbian representative in the World Bank, Biljana Chroneos-Krasavac looked new and perhaps unique model of economic growth of Serbia, the situation in the EU, the development perspectives of Serbia with the EU and the future of Serbia and the IMF.

Chroneos-Krasavac: "While there is no unique model of growth, we are known key components of growth, and they are certainly leadership, globalization and capital. Posticanja leadership from the standpoint of national unity, the introduction of innovative policies, institution building and, of course, a political consensus. From the standpoint of Serbia, it means that Serbia must leave as soon as the current growth model, which is based on consumption and to shift to a new model, which will focus on strengthening export and mainly on a macro-economic stability and sustainablity. We have to say tht our econimic growth in the period since 2001, by 2008 followed by a rate of 5.4 percent, which went at the expense of two key macro-economic balance. First of all, the share of consumption in GDP was very high, and this is regulated through imports, which are dinanced through privatization receipts, on the other side - primarily through private sector borrowing abroad, as well as a result, even before the beginning of financial crisis, foreign high deficit and current account deficits.

On the other hand, economic growth is based on the growth of services, while the share of industry and agriculture, very low so that only the participation of exports in GDP was very low and that of course means that we on this record area.  For these reasons must leave the current model of growth and we have to point out that a smaller inflow of foreign capital, foreign direct investment, and that just happens to be the environment changes, it is less privatization revenues, and are low and effects the growth of employment. "

VOA: What Future for the European uniiju sees in this context, the role and position of Serbia?

 

Chroneos-Krasavac: "Last week we have a large fluctuation of Euros and that just points to a growth instability and mistrust in the rapid recovery of Europe.  Many economists, including Soros, alleging that the crisis is far from complete and that we enter the so-called second act of the drama which is called just a global recession.  He announced that many European economies have negative growth next year and also indicates that there is a risk for some of them to experience the so-called "double dip" or a deepening recession.

 

The economic picture is not the brightest of the European Union, however, Europe still remains the only way for Serbia.  It must coordinate their development priorities in Europe.  It is a concept of Europe 2020th years, which means a stable, inclusive and sustainable growth. From the standpoint of Serbia, it would primarily meant high rates of economic growth high, but sustainable, while increasing competitiveness and creating jobs, increasing exports, primarily, which will have a greater participation of agriculture and industry, which will be based on new , upgraded technology, higher rates of domestic and foreign investment, total public sector reform, price stability and at the same time infrastructure development, increasing employment rates, which is based on a new and active role and exchange of knowledge, and of course sustainable trade deficit and current balance of payments deficit. "

 

VOA: What is the future of Serbia with the International Monetary Fund?

 

Chroneos-Krasavac: "The current program, which is currently active with Serbia ends with the 2011th year so that will be open at that point whether to continue the program with the IMF.  What we emphasize is that the 2011th years for Serbia election year and there will be increased spending for such purposes.  At the same time 2011th years and years to be a kind of challenge for Serbia in terms of just the financing of its external obligations. For these reasons, the program with the IMF, each member country provides a continuous monitor, restrictive monetary, fiscal and financial policies of the country and keeps the country in terms of sustainable budget deficits.  These are the main values of the countries with the IMF and for these reasons; I believe that it is for each country, especially in this remedy situations, it is very important.  However, the government of Serbia will be those who will be based on the established priorities of the country and deep analysis of the macroeconomic situation in the country and possible sources of funding will have to decide if you will, after the 2011th the program will continue cooperation with the IMF. "

return to the top of the page

Procurement by companies from Serbia in contracts awarded under World Bank-Financed Projects
(000 US$) as of 7/23/2010 

Fiscal Year

Amount
Consultant
Services

Number
Contracts
Awarded

Amount
Civil Works

Number
Contracts
Awarded


Amount
Goods

Number
Contracts
Awarded

2000

--

--

--

--

94,981

2.0

2001

--

--

315,521

2.0

--

--

2002

1,269,785

13.0

227,199

1.0

1,687,847

10.0

2003

1,833,296

45.0

3,395,467

2.0

3,147,361

10.0

2004

3,143,375

53.0

--

--

6,167,901

4.0

2005

6,060,121

77.0

12,998,619

2.0

1,795,162

6.0

2006

5,654,756

78.0

17,351,187

7.0

24,596,645

31.8

2007

5,726,402

51.0

28,669,041

17.0

8,677,045

28.0

2008

7,439,278

148.0

43,070,088

5.0

8,935,655

16.0

2009

4,462,152

58.0

22,587,503

4.0

5,717,463

11.0

2010

8,159,948

118.0

15,275,040

6.0

11,133,487

29.0

Total:

43,749,113

641.0

143,889,664

46.0

71,953,547

147.8


return to the top of the page

Voting Status Serbia

* Millions of 1944 USD ** Thousands of USD *** Millions of SDR

Institution

Amount of capital

Percent of total capital share

Number of votes

Percent of total voting power

Percent for the chair of total voting power

IBRD

284.6*

0.18

3096

0.19

3.04

IDA

-

-

52017

0.31

3.85

IFC

1803**

0.08

2053

0.09

2.6

MIGA

4.07***

0.23

671

0.3

2.97

return to the top of the page

  FY09 Annual WBG Commitments (Million USD)

 

 

Lending

Equity

Guarantees

SERBIAIBRD / IDA

63.5

-

-

  IFC

56.4

-

-

MIGA 

-

-

158.3

  

Total:

119.9

-

158.3


return to the top of the page


Last updated: 2010-08-28




Permanent URL for this page: http://go.worldbank.org/ZOX5R69LG0