Serbia: Political lessons we learn from Serbia

Written by Linda Digby 01 Jul 2015
Serbia: Political lessons we learn from Serbia

Serbia - a war-torn country of 7.2 million people racked by broken economy and soaring unemployment and inflation. Just last year, the World Bank ranked the former Yugoslav territory 91st among countries surveyed on its annual report of ‘Doing Business’ assessment. That was the state of affairs inherited by the Generation X politician who became Serbia's newest prime minister. Yet in less than 14 months' he has made tough choices, reversed a record deficit of 7 percent GDP of the economy to near-break-even, and achieved economic growth. Serbian Prime Minister Aleksandar Vucic, 45, took office in April 2014. Despite flooding that affected the country after his inauguration, he quickly worked with the parliament to institute economic reforms, including cutting pensions and public-employee wages and raising taxes. He pushed through laws allowing a flexible workplace and focused on attracting foreign investment. His actions quickly paid off and the results have been stellar. The country's GDP is forecast to grow next year. Serbia is currently in negotiations to join the European Union.

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