Serbia: SMEs Driver for Economy

Published: August 30, 2013; 12:18 · (FriedlNews)

Serbia's private sector employs 45% of the total number of employees.

Serbia: SMEs Driver for Economy / Picture: © Flickr

Serbia's Deputy Prime Minister and Minister of Foreign and Internal Trade and Telecommunications Rasim Ljajic said that SMEs are the driver of economic development and the basis for the growth of GDP and the unemployment rate.

Opening of the 14th fair of innovation, cooperation and entrepreneurship "Inokoop" in Zrenjanin, Ljajic said that the private sector in Serbia today employs 45% of the total number of employees, and that the total GDP accounts for only 30%.

He also pointed out that in the last ten years in the EU, private sector employed 85% of all new employees.

Serbia must again begin to develop and motivate its well-known entrepreneurial spirit, said Ljajic.