VUCIC: We are bringing an important investment to Novi Sad, in two years we will have a GDP on the Croatian level

An investment will be brought to Novi Sad, which will exceed the one of the aircraft engine company MTU, to be built in Nova Pazova, Serbian President Aleksandar Vucic announced.

He said on TV Happy that Serbia had been able to fight the coronavirus crisis thanks to stable public finances, a large number of foreign direct investments and the relatively recent purchase of 10 to 11 tons of gold, whose value had increased by 50-60%.

When asked whether companies are satisfied with the stimulus package, Vucic said that they were and added that there had not been any major complaints, except from the Fiscal Council, which had advised against the measure of paying EUR 100 to each citizen of legal age.

Discussing the help from the European Union, Vucic says that the most is expected from the package which is to arrive this autumn.

He pointed out that the development of Serbia's economy mostly depended on the quickness of the development of the European economy and noted that 67% of the country's trade was with the EU, with Germany alone accounting for 13%.

He said that the average salary in March would probably be 515 to 520 euros.

– The competition and the market are creating higher salaries and we need this – he pointed out and emphasized that the coronavirus crisis had slowed down the investment plan of EUR 10 billion, but that it would continue and that it had not stopped.

Vucic also said that, in 2012, the GDP had amounted to EUR 35 billion in absolute terms, whereas, for 2020, the projection had been EUR 50 billion before the outbreak. He added, however, that it would reach EUR 52 billion the next year.

– In two years, we will have the same GDP as Croatia – he added.

He noted that Serbia's public debt was the lowest in the region, but that it still shouldn't go above 60% of the GDP and that it needed to be controlled.

MTU Maintenance Serbia d.o.o. Beograd

Fiskalni savet Republike Srbije

Narodna skupština Republike Srbije

MTU

Fiscal Council

Aleksandar Vucic

Nova Pazova

production of aircraft engines

coronavirus crisis

Covid 19

foreign investments

gold

purchase of gold

aid package

EUR 100

trade with EU

average March salary

GDP

public debt