Frattini: Measures to encourage growth, heal economy

ROME, BELGRADE - The measures announced by Serbian Prime Minister Aleksandar Vucic will spur economic growth and heal the Serbian economy in the next year or two, the president of the Italian Society for International Organisations Franco Frattini said on Friday.

The former European commissioner, who has also served as Italy's foreign minister, told Tanjug that the most efficient initiatives will be those that are related to the fight against the grey economy, political influence and employment in the public administration.

The measures are very significant and can be compared to those taken by the prime minister in the fight against corruption, which have proved to be very successful in Serbia, Frattini said.

He said that he is confident that the measures aimed at creating a healthy private sector and industry, which, as Vucic said, would not be in the hands of tycoons, but rely on small producers and small and medium enterprises - in particular in agriculture - will be a great success.

The reduction of pensions and salaries in the public sector is among the tough measures, Frattini said, but added that the experiences of countries such as Greece, Portugal and Spain - which had been in a worse situation than Serbia - show that the measures have been successful.

Attracting foreign investors is one of the biggest trump cards, and Sheik Mohammed bin Zayed's presence in Belgrade confirms that the United Arab Emirates will continue to invest in Serbia as they have in Air Serbia, Frattini noted.

Besides the United Arab Emirates, neighbouring countries such as Italy are also investing in Serbia, Frattini said, citing FIAT and Calzedonia, which recently opened a production plant in Subotica, as examples....