SME investments in Serbia are drastically lower compared to the EU average, says Pavle Medić, an economist at CEVES, in an interview with Bloomberg Adria Serbia, adding that SMEs invest only 5% of GDP compared to 10% in the EU.
The essence of the message we want to convey at our MSP100 EXPO event is that small and medium-sized enterprises develop best if people develop, and people develop with the development of SMEs if the education system works for them, not for providing jobs to people with outdated profiles.
The SME sector, as well as its champions, do not enjoy a sufficiently stimulating and equitable business environment in their home country.
The total index score of 40.1 (out of 100 points) indicates that SMEs are at a lower-middle level of development, which corresponds to Serbia's level of development compared to EU countries.
Serbia's economic growth during 2022 was almost half as slow (2.3%) compared to Western Balkan countries (4.1%), significantly slower
„The main causes of low private investment concern three things – the first is the now well-known story about the unfavorable business environment. The second factor is also known, and that is the almost exclusive focus of the state on attracting foreign direct investment. The third factor is a weak, relatively weak, and, we must say, outdated way of managing companies,“ said Lazar Ivanović, an economist at CEVES, to Bloomberg Adria.
At the beginning of the transition, private capital generated just over 20 percent of GDP, and today remaining state-owned enterprises generate less than 10 percent of GDP, but still significantly influence the business environment and hinder the faster growth of domestic small and medium-sized enterprises.
„High exports to Russia have been recorded, which shows that our companies are using the global situation to do business in this country, although there is a great geopolitical risk given the Western sanctions,“ said Lazar Ivanović, an economist at CEVES, as a guest on Bloomberg Adria.
„Serbia has not two, but several business environments, one of which is for foreign companies, the second for public enterprises, and
Small and medium-sized enterprises are the drivers of the largest part of the domestic economy, creating 60% of added value, 66% of employment, and participating with 45%
Dear friends, partners, associates, donors, During 2022, we advocated for the achievement of sustainable development in Serbia, and especially
Despite the energy crisis, the war in Ukraine, difficulties in global supply chains, and shocks in global capital markets, the global post-pandemic economy
CEVES Newsletter Our New Year's resolution is to be in more direct contact with you to strengthen our mutual communication and support
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