Serbia's GDP Is Already At A Pre-Pandemic Level

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At the start of the pandemic, the National Bank of Serbia (NBS) predicted that this year's GDP will grow by about 6%.

 

“Serbia will be one of the few countries in Europe that will not only reach but also exceed the level of economic activity in the pre-pandemic period in 2021,” said NBS Governor Jorgovanka Tabaković.

 

“The data for the first quarter show that the growth will be over 6%,” Tabaković told the Politics newspaper. “Thanks to numerous private and public investments, as well as strong industrial and export growth, Serbia recorded 1.2% annualized GDP growth in the first quarter, which is in line with the pre-crisis level of GDP in the first quarter.”

 

According to her, half of the expected growth will be due to the growth of industry and construction, and the other half due to the services sector.

 

“In the first three months of this year, the inflow of foreign direct investment amounted to almost one billion euros, and state capital investments increased by 13.7%,” Tabaković said.

 

In three years Serbia managed to receive more investments than Hungary, Bulgaria, and Slovakia. In total, from the beginning of 2018 to the end of 2020, the country received 10.3 billion euros of direct investment.

 

The interest of foreign investors in Serbia is growing from year to year. The country offers favorable taxation systems for companies and individuals, as well as the opportunity to obtain permanent residence in five years and citizenship.

 

What are the advantages of the Serbian residency program:

 

  • Practical “No stay” requirement

  • No requirement to speak the Serbian language 

  • Permanent residency can be obtained in 5 years 

  • Residency via the ownership of Serbian property with no minimum investment 

  • Simple procedure based on strict laws 

  • Only 2 visits to Serbia required 

  • Very favourable company and personal tax systems 

  • No CRS (Serbia did not sign CRS) 

  • Straight and fast bank account opening (as fast as 7 – 10 days) 

  • Serbia has free trade and custom free agreements with the EU, Russia, Turkey etc. (total of 1.1bn consumers) 

  • Availability of high-quality and not expensive labour 

  • Very competitive operating costs

 

FIND OUT MORE ABOUT THE RESIDENCE PROGRAM IN SERBIA HERE

 

Source: srbijadanas

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