Mali: Serbia has more than doubled its GDP per capita

BELGRADE - Serbian First Deputy PM and Finance Minister Sinisa Mali said on Tuesday Serbia had succeeded in increasing its GDP per capita to around 15,800 euros and that it was attracting more than 60 pct of all FDI in the Western Balkans, which he noted was contributing to the country's quick economic growth.

Mali was speaking at GLOBSEC's BELTALKS: Belgrade Economic Talks forum.

"If you look at the 2012 GDP per capita in Serbia, it was at around 4,800 euros per capita, while now it is, give or take, 15,800. Therefore, it has more than doubled," Mali said at a panel on the EU growth plan, an EU single market and the paths to EU integration.

He noted that, in the period since 2012, Serbia had had the fourth-highest GDP growth rate per capita in Europe.

"I think Ireland was in the number one position, followed by Romania and Bulgaria, I think. There are three things driving that growth in Serbia - investments, because, as you know, we are investing. This year, 7.4 pct of our GDP goes to capital expenditure. We are currently building ten new motorways," Mali said.

He noted that Serbia was also making considerable investments in the energy sector, a high-speed rail network and other infrastructure projects, and added that all those public investments were helping to accelerate growth and boosting job creation.

"At the same time, we have personal consumption, which is positive in real terms, a huge contribution to growth. Also, if you look at any report on Serbia's credit rating, that will be one of the conclusions, and also, if you look at the IMF report, there is also a third factor - FDI," Mali said, noting that Serbia had registered 5.2 bln euros worth of FDI last year.