Serbian dinars (Shutterstock)
The state officials' announcements about partial data showing a "record-high" economic success of Serbia is mere political propaganda intended for the electorate, with the aim of creating a false image of Serbia's economy, economics expert Borislav Borovic stated on June 23 in an interview to the information portal of the UGS Nezavisnost association of trade unions.
In his words, the pomp-laden announcements about GDP growth in a particular quarterly period represent a rather unusual practice and, in Serbia, they are intended for domestic purposes and the political "ramping-up" of optimism, and maybe even as pressure on the country's statistics institutions.
Commenting on the rise of Serbia's public debt, he said that it officially amounted to 28 billion euros, but that this excluded the seven billion that was still lacking for covering this year's budget deficit and the due installments of earlier loans.
In the reply to the question about why Serbia was lagging behind in economic development, he stated that there were several reasons, the main one being the wrong economic model, which he described as perilous for the future of Serbia's commerce.
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