Serbia

MDG 8: DEVELOP GLOBAL PARTNERSHIPS FOR DEVELOPMENT

The achievement of the Millennium Development Goals entails a dynamic and sustainable growth of gross domestic product (GDP) by 2015. The Republic of Serbia has achieved dynamic economic growth, high export growth, considerable inflow of direct foreign investments, and improved economy efficiency in the period between 2005 and 2008. The average GDP growth rate in this period was 6%.

However, the positive macroeconomic results were followed by an increase of internal and external imbalances. The trade deficit increased from 20.8% of GDP in 2005 to 22.8% of GDP in 2008. It was covered by remittances from our workers abroad, revenue from the sale of domestic enterprises and by borrowing.

The global economic crisis has caused a substantial reduction of options for covering the trade deficit. Exports, which were already considerably lower than imports, were reduced in the first half of 2009, as a consequence of the drop in export demand. The inflow of direct foreign investment on the basis of privatization, which is practically over, will also be small in the following period.

Objectives	Indicators
1. Dynamic and sustainable growth of gross domestic product	GDP growth rate GDP, in millions USD GDP per capita, USD Foreign trade balance, % GDP Current account balance of balance of payments, % GDP Share of direct foreign investments in % GDP Share of foreign debt in % GDP
2. Increase the accessibility of new technologies to a much larger number of citizens	Number of mobile phone subscribers per 100 people Number of personal computers per 100 people Number of internet users per 100 people
3. Increase investments in human resource development	Share of budget expenditures for education in % GDP Share of budget expenditures for healthcare in % GDP