World Bank Director and Regional Coordinator for Southeast Europe Jane Armitage Smith stressed the importance of discussing Serbia’s speedier economic development, achievement of economic competitiveness, increase in productivity and exports. The cooperation between the private and public sector is crucial to that end, stated Armitage Smith.

Loup Brefort, Head of the World Bank Office in Serbia, said that the World Bank study sends the positive message that Serbia can achieve faster economic development and increase in GDP by adopting a model based on productivity and export, which would lead to an improved quality of living for its citizens. The study highlights the industry and agriculture sector as the most important for Serbia’s economic development, added Brefort stressing the need to reach a social and political consensus in order to achieve a new model of growth in the country.

The World Bank study titled “Economic Memorandum for Serbia – The Road to Prosperity: Productivity and Exports” demonstrates that Serbia needs a more balanced growth and strategy of growth based on export, primarily the export of metal industry and agricultural products, which would boost the growth of GDP and open up new jobs.

The members of the Finance Committee and concerned MPs talked to the World Bank representatives about the expected GDP growth, public finance crisis, fiscal consolidation, continued tax reform, as well as reform of the pension, healthcare and education system in Serbia.

In addition to Finance Committee members Milan Vuckovic, Igor Becic, Milorad Buha, Lidija Dimitrijevic, Branislav Jovanovic, Mihailo Puric, Vlajko Senic and Jorgovanka Tabakovic, the meting with the World Bank representatives was attended by MPs Aleksandar Vlahovic and Marko Milenkovic.