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Serbia getting closer to economic recovery: PM

Xinhua, October 26, 2015 Adjust font size:

Serbian PM Aleksandar Vucic said on Sunday that Serbian reforms are going as planned and it is becoming one of the most respectable countries in South East Europe.

Vucic made this remark on the occasion of one year and half since the current government was formed.

Vucic said at a press conference that Serbia reversed the trend of economic downfall, prevented bankruptcy, and achieved political stability and has shown good cooperation with other countries of the region.

"Serbia managed to maintain stability despite circumstances in the region, and today it is a financially stable and serious country," he noted, adding that government in the past period was faced with heavy floods, migrant crisis, and attempts of Serbia's southern province Kosovo to join the UNESCO.

Vucic said that despite all this, Serbia finally managed to recover from economic crisis and that the expected deficit this year might revolve around 3 percent of GDP, although International Monetary Fund predicted it to be 5.5 percent.

He estimated that the growth of GDP will be between 0.7 and 1 percent by the end of the year, and that citizens will gradually start to feel the increase of living standard in the years to come. Endit