Former deputy prime minister of Serbia: The worst is over, the crisis has let up
Labus recalls that our country is not an isolated island, and that there is reputational risk
The White Book of the Foreign Investors Council (FIC) in Serbia has been presented, and the editor of this year's edition is Miroljub Labus.
Recommended
Chery will enter Serbian market with several models
Brnabic: "Kurti says that Brussels Agreement does not exist, these are bad signals"
Labus reminded that FIC has been here for 20 years and that this is the best white book in the region, judging by the interest of investors.
Speaking about geopolitical trends and the impact on Serbia, Labus recalled that our country is not an isolated island.
"Serbia is not an isolated island, Serbia depends on Europe and Europe depends on America. We are all in the same boat. There is uncertainty everywhere, and prices have skyrocketed," he said.
However, according to him, the biggest crisis was in August.
"Gas was three times more expensive than today, food was twice as expensive, a barrel of oil was 102 euros and now it is 80. That worst part is over, but there should be caution that it could come back," said Labus.
Also, he noted, although everyone is talking about potential recession, he thinks it will be mild in America, deeper in Europe, and as for us, he says:
"I think we will not fall into recession, but the growth rate will be lower. Inflation will remain high," he estimates.
According to Labus, we are short on domestic investors, and consumption is dragging down the economy.
He pointed out to the reputational risk for our country.
(Telegraf Biznis)