Zoran Drakulic: Current Government 'Excelling' Only at Selling Off Domestic Resources

Zoran Drakulic (BETAPHOTO/Milos Miskov)

Zoran Drakulic, a veteran in Serbian businesses, said on Oct. 14 that Serbia was one of the poorest European countries because its economic development was not based on domestic resources and local entrepreneurs.

In an interview with BETA Drakulic explained that the country’s economic development was now in the hands of foreign companies that "ruthlessly extract profits from Serbia, receiving large subsidies unfairly."

"I’m primarily referring to the Oil Industry of Serbia (NIS), RTB Bor mining complex, infrastructure construction, industrial complexes, road construction, and even more so residential projects like the Belgrade Waterfront," he said.

The Serbian businessman also said that it’s no surprise that Serbia was one of the poorest European countries, alongside Moldova, North Macedonia, Albania and Bosnia and Herzegovina, as the country's GDP growth rate had not exceeded five percent since 2000, which he blamed on "Serbia’s flawed economic policies."

Drakulic, president of the Point Group holding company, has warned that that Serbia's economic growth hinges on enormous borrowing, inflated infrastructure project costs, and an abnormal increase in food and energy prices.

When asked to comment on Serbian President Aleksandar Vucic’s words that "things are going really well" in terms of economic growth, Drakulic said that Serbia was indeed "excelling" at selling off domestic resources, and what was really going very well was the colonization of the state, the destruction of agriculture and energy sectors due to catastrophic energy policies, and "the enrichment of a privileged group of businesspeople and a part of the political elite close to the government."