Serbia makes progress in financial management reform – Energy sector restructuring needed for quicker growth

Serbia has made great progress in reforming financial management and the public sector in a way which has helped re-initiate economic growth and new employments, Subhash Chandra Garg, Executive Director of the World Bank, stated on Monday, March 27, 2017, during his visit to Serbia.

– To maintain a quicker and more inclusive growth, however, more thorough reforms will be needed, included the restructuring of the energy sector and implementing smart investments in the regional transport and energy connectivity – said Garg, WB Executive Director for Bangladesh, Bhutan, India and Sri Lanka.

As said in the institution's press release, the eight-member delegation of the World Bank's Executive Directors visited Serbia on March 26 and 27 as part of its Western Balkans tour focused on energy connectivity.

During their talks with the Deputy Prime Minister, the Minister of Finance, the Minister of Energy and other representatives of the the executive, the delegation had the opportunity to familiarize themselves firsthand with reforms in the energy sector and the development in Serbia, but also with the role Serbia could play in enhancing the connections within the Western Balkans and Europe.

The World Bank representatives talked to Serbian officials about infrastructure, transport and reforms of the energy sector, as well as about the prospects of the regional connectivity regarding energy and transport, the press release says and reminds that the World Bank is an important development partner of Serbia.

Svetska Banka-WB Beograd

IFC

World Bank

Subhash Chandra Garg

financial management reform

Serbian public sector reform

economic growth in Serbia

restructuring energy sector in Serbia