Savic: Serbia Will Have to Slow Down and Pause Economic Projects Due to the Crisis

Due to the crisis and the war in Ukraine, Serbia will have to slow down or postpone the realization of some projects, and certain projects for which loans have been taken out will need to be completed within the set deadlines, said Ljubodrag Savic, a professor at the Faculty of Economics in Belgrade.

He told Beta that Serbia was in a very difficult and uncertain position and that the options of Europe for blackmailing were very big, and that the time of cheap money and borrowing had ended.

He said that the price of money sometimes depended on the market conditions, and sometimes on the games between the big players in the markets of the USA and the EU, but also Japan and China.

Savic said that Serbia had given in on April 7, voting to remove Russia from the UN Human Rights Council, and that it would be very dangerous, though he didn’t expect it, if Russia put in on the list of hostile countries because of it.

– I don’t expect Russia to punish us, and if it happened, we couldn’t pay USD 270 for the gas, but several times more, the market price. We can’t withstand that, and if there’s no gas, foreign factories will leave – Savic said.

Ekonomski fakultet Beograd

Ministarstvo finansija Republike Srbije

Faculty of Economics in Belgrade

Ljubodrag Savic

war in Ukraine

credit

loan

cheap money

price of money

removal of Russia from the UN Human Rights Council

UN Human Rights Council