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ezaposleni.singidunum.ac.rs/rest/sciNaucniRezultati/oai:2:5756 2018-04-25T11:02:20Z 2

Serbia: Entrepreneurs recognized improved environment for business, 2018 http://ezaposleni.singidunum.ac.rs/rest/sciNaucniRezultati/oai/record/2/5756 www.erenet.org M. Hadžić P. Pavlović Economic recovery of Serbia is now secured, after three years of increase in GDP and promising higher rate of growth in the next several years. Important sectors, like industry, traffic, trade, construction are in a good shape, only stagnant one was the electricity production and a decrease was recorded in agriculture, due to unfavorable weather conditions. This growth was based on the increase in personal and investment demand, together with stable foreign demand. The national economy became stable one, considering the inflation rate on the level comparable to European one, which gave the chance to the Central bank to push down its interest rate to the lowest ever. This achievement is a result of very painful measures of fiscal consolidation introduced in order to cut the budget deficit and the share of public debt in GDP, which was realized faster and more than expected. Market reforms got momentum during the last several years, especially regarding construction permit, business registry, cadaster registry and start business. It was recognized by international authorities, as Serbia improved its position on different global lists which envisaged business environment. Also, international credit rating agencies assessed Serbian position as better, with promising expectations. All those positive signals changed readiness of domestic potential entrepreneurs to start business or existed one to develop it. Last several years one can see that the main trend in business demography is as follows: the increasing number of newly established companies and shops and at the same time decreasing number of closed companies and shops. Of course there is enough space for further improvement of business environment and entrepreneurial eco system, especially in easing tax and related duties and better access to finance. article XIII 1 51 56 1789-624X ERENET Profile