Serbia’s progress in 2016
As we are reaching the end of 2016 we take a look back into the progress Serbia has made during the course of this year. The European Union still remains a confident and consistent partner of Serbia, consisting of 82% of the total foreign direct investments into the country: Serbia’s largest partner by share is Italy, then Austria and closely followed by France. Confidence in the Serbian market keeps increasing, as more investors look towards Serbia as their new Eastern European center of operations. The IT sector has seen the most impressive growth and is set to become Serbia’s number one export in the years to come, and the largest share of the local economy. Global firms such as Microsoft, CISCO, Samsung and others have identified this opportunity and have already acted with sizeable investments. But, the highly skilled labor, relatively low wages, and significant governmental subsidies still make Serbia a top destination for industrial outsourcing.
Serbia’s credit rating and economy
S&P Global ratings is confident in the countries strives to consolidate its fiscal expenditures and expects it will upgrade its rating soon. Similarly the board of directors at the International Monetary Fund have reviewed the progress made by Serbia’s leadership and have given it a positive note as well. Stability and growth are now the keywords most often associated with Serbia and its economy, and are most likely to remain that way.
Serbia and Paxton Equity
Together these factors keep creating a stable environment for investors. According to surveys by EUROSTAT confidence is growing, and transparency is increasing which has in itself increased the likelihood of further contributions by foreign investors towards Serbia. Paxton Equity remains one of the most important consulting firms to work with FDI, with its know-how and experience, and is looking forward to the many new opportunities that come as a result of the increase in confidence in Serbia’s economy.Share