Continuation of consolidation of state-owned banks – Transformation of Tax Administration and Customs Administration announced

Prime Minister-designate Aleksandar Vucic announced in his expose that the new Government of Serbia would continue the process of the privatization of Komercijalna Banka, the consolidation of Postanska Stedionica and the preparation of the sale of Dunav Osiguranje.

While presenting the new government's program at the National Assembly, he said that international standards would be applied in planning the budget and monitoring the budget expenditures and that the Tax Administration and the Customs Administration would be transformed.

He emphasized that the aim of his cabinet would be to improve the country's credit rating and to reduce the borrowing and use loan proceeds more efficiently.

– I expect that the monetary stability will be maintained and that the share of non-performing loans will be reduced – Vucic said.

He reminded that, from 2014 till 2016, 36 contracts had been signed with investors in the total amount of EUR 543 million, with the obligation of employing 18,523 workers.

– At the moment, the Development Agency of Serbia is negotiating with 48 potential investors who plan to invest EUR 1,062 billion and employ 32,400 workers – Vucic said and added that Serbia should become recognizable by its qualified and diligent workforce.

Vucic pointed out that the total amount of investments in Serbia amounted to 18% of GDP and that it was necessary for them to be higher by 5-6% of GDP annually to secure a dynamic economic growth.

Vlada Republike Srbije

NLB Komercijalna banka AD Beograd

Banka Poštanska štedionica a.d. Beograd

Dunav osiguranje a.d.o. Beograd

Poreska uprava Srbije

Uprava Carina Beograd

Razvojna agencija Srbije

Government of Serbia

Aleksandar Vucic

Komercijalna Banka

Postanska Stedionica

Dunav Osiguranje

budget

Tax Administration

Customs Administration

credit rating

non performing loans

NPL

Development Agency of Serbia

GDP