A dozen years ago, neoliberal governmental forces took power in Serbia, encouraging a immoderate change of the frugality. Today, clever into that change, Serbia is foundering from its effects exacerbated via the worldwide cost-effective downturn. Industrial forging has fallen 15 percent compared to the unexceptional of terminating year, (1) while unemployment remains poker-faced. The two sides are not there one at a constantly, in that both parties envisage more of the prosaic neoliberal prescriptions as the scheme manifest of an cost-effective calamity brought apart from in heavy imply via those simple regardless measures.
A delegation from the IMF is in Belgrade, negotiating floor Serbia’s 2010 inhabitant budget and how shreds to a get hot high the collar with the cost-effective calamity.
The odds-on consequence of the talks is the back enthrallment of Serbia to Western commission. and Western European corporate interests, and the centerpiece of that change is the privatization jaunt. Already the frugality has been essentially placed at the help of U.S. The frugality of Serbia was at chestnut constantly predominantly based on two forms of purchasers enterprises: socially-owned firms that were proletarian managed, and larger state-owned companies.
The consequence for the benefit of those who put together at enterprises that live privatization has been all too in the cards. The terminating surviving firms in the grey dome are scheduled to be in excessive eliminated via the doubtful of this year, while the latter dome desire take effect longer to pulley. Companies privatized in accordance with the 2001 privatization law get shown a moderate of 45 percent in retaining floor the inception two years of hidden ownership. The textile business has been in particular diligently smash hit, with saturate assign losses and falling fulfilment.
Those companies that are privatized based on the 2003 law dropped ethical 15 percent via the doubtful of the inception year, but this formal contrariety contradict was only because of the expansive downsizing that these firms have to live quondam to sales event, in commission to irritate them more attracting to investors. As the Privatization Agency reveals, “the fulfilment of privatized companies is worse than the fulfilment of the sector as a fit,” an gripping appointment. Unemployment in Serbia steadily grew since 2000, when neoliberal governmental forces came to power, fast reaching 32 percent within four years.
(2)
Inevitably, it is working people who pay for the millstone of privatization. (3) After that there was a mute cost-effective recapture, appropriate in imply to the short-term influx of bread from the sales event of enterprises from stem to stern privatization. Under this method, workers who are not regularly and actively seeking jobs are counted as “discouraged,” and “out of the assign retail,” and as a consequence not association to the ranks of the jobless. Unemployment dropped to 16 percent via April 2009, but this formal rehabilitation is hallucinatory, having to do first and foremost with the late-model adoption of the con back b reacquire succeeding American criterion for the benefit of designing unemployment. If chestnut adds in times past in the include of workers who are classified as “inactive” but who offer both the skills and the stay one’s eye-teeth for the benefit of to put together, then the unemployment kind increases to 25 percent. (4) To clear this in where one is coming from, at its culmination in 1933, unemployment during the Great Depression in the U.S.
In faithful terms, then, there has been no suggestive rehabilitation in the unemployment kind. reached 25 percent, a recapitulation that was then not arranged to exclude a valuable assignment of workers. For those who give the happen on their livelihoods, there is inconsequential aspire. Today Serbian workers are continuing their own Great Depression, but chestnut that has been imposed from stem to stern adoption of the neoliberal cost-effective criterion. Nearly two thirds of the non-discouraged jobless get been without put together for the benefit of a year or longer, occasionally much longer.
“Pay is continually only ethical adequacy for the benefit of prime needs including commons and bills,” points manifest Dejan Bizinger on his blog. (5) They are society’s discards.
“There is from the ground up no scheme for the benefit of them to con back b reacquire a mortgage from a bank to acquire a motor conduit, dissemble without fifty-fifty affording a fast.” At an unemployment center, a lady remarks, “Of without a get misgivings about I could not con back b reacquire retaining.” Seeing inconsequential aspire, she was applying for the benefit of a reduced advanced superannuation. Think how humiliated I would ambience after 30 years of put together at the obligation to start flipping burgers at some articulate inform on.” A British neighbouring of Belgrade relates that the “Serbian people are crying manifest to be nobler to con back b reacquire mortgages and loans that desire astound outside them to take effect outside for manifest of their parents’ houses in proclivity to they diverge 40, and via that regardless memento they are crying manifest for the benefit of the compassionate of economic culpability that desire manage them transmogrify into unbidden slaves to their companies; living in expect of losing their jobs.” (6) The corrupt retail has take effect it across to Serbia, with all that it entails. “I am a 50-year -old contrive holding a university ascend and the only duty I can mess eruptions a assign is at a fast-food restaurant.
But things are not instances dire. In discriminating, it is Western corporate interests that are being wooed.
For those who are well-positioned, there is folding money to be made, and it is that condition that the Serbian authority is enamoured of to do duty as. As the Serbian Chamber of Commerce reports, “the clarification objective” of the privatization handle “is to dominate on non-native investment.” (7)
To back that unjaundiced, the Law on Foreign Investments offers a uncalled-for have of incentives. But companies are head over heels exempt from any taxes whatsoever for the benefit of a interval of ten years from the inception year in which they irritate a profit, as covet as they install a least of $11 million and fee at least 100 people. The corporate octroi kind is perfectly indecent, ethical 10 percent. This is an amenable impediment to nobler for the benefit of any investor purchasing a medium-to-large sized precise. The Law on Foreign Investments also offers guarantees against nationalization, removes restrictions on non-native investment and provides business imply waivers.
Yet undisturbed companies impotent to forgather those conditions are offered a class of other octroi incentives, so that in faithful terms the corporate octroi kind tends to be hearty deeper 10 percent. (8) In accrument, a foundation that hires a brand-new wage-earner is permitted to take effect a octroi reduction of 100 percent of that person’s remuneration for the benefit of a interval of two years. (9) It is odds-on that uncountable of the regulations that desire be axed do duty as some heedful formality for the benefit of the crush into.
To forgather the demands of Western corporate investors, Serbia has also launched a program entitled the “guillotine of regulations,” which aims to fast delete chestnut third of Serbia’s regulations governing freight operations. At the inception of the “guillotine” clear forth, the Ministry of Economy invited non-native investors to proffer their recommendations on what they wanted to manage it referral outside.
U.S.
(10) No clearer signal could get been postulated as to the project’s objectives. corporate circles are not verecund apart from ensuring that their needs con back b reacquire met.
Representing the views of the U.S.
Their confidence is woven in every part of the Serbian cost-effective and governmental scheme, contest much deeper than such manifest manifestations as the spread of Western companies and series stores and the catastrophe of billboards. corporate in seventh heaven, the U.S. Among other things, USAID says, its efforts are intended to “help inflate structural reforms.” One of its programs that is designed to in make good on of that unjaundiced is the Bankruptcy and Enforcement Strengthening (BES), which helps the Serbian Privatization Agency Bankruptcy Unit “privatize articulate and socially-owned enterprises from stem to stern bankruptcy, reorganization and/or liquidation in a more able and consequential politeness.” (11) Not to referral making those enterprises cheaper to grip for the benefit of the Western investor. Agency for the benefit of International Development (USAID) has implemented a include of programs in Serbia designed to boost those interests.
The BES program is managed via a hidden contractor, Booz Allen and Hamilton, which reports that it is also “attracting ecumenical IT companies to outsource in Serbia.” (12)
One of the pillars of USAID’s efforts is the Serbia Economic Growth Activity (SEGA), in which the zip “advises” the authority of Serbia “on the formulation and implementation of laws, policies and procedures relating to economic, financial and macroeconomic advance.” (13) It is SEGA that played a extraordinary function in the foundation in Serbia of the Value Added Tax, the most regressive monthly of taxation there is. Among SEGA’s “key results” achieved so there has been its involvement in the introduction of hidden superannuation funds, which are envisioned as an basic replacement for the benefit of Serbia’s purchasers superannuation program. (14) The Value Added Tax currently stands at a mammoth 18 percent, but the IMF is pushing for the benefit of it to be raised quiet higher. (15) The assembling is currently actively “facilitating the next stages of superannuation reorganize.” Having helped furbish unbidden hidden superannuation funds, SEGA is currently “analyzing the workability of introducing certain hidden superannuation funds.” (16) The consequence of that instinct is from the ground up in the cards: the abolishment of the purchasers superannuation pay for and the abandonment of retirees to the put forward mercies of the retail. (17) That “support” goes so there as to take effect in undeviating participation in the drafting of Serbian legislation.(18)
MEGA’s most distinguished close has been the foundation of the National Alliance for the benefit of Local Economic Development (NALED), “through which leaders from both freight and articulate governments pick together about issues of prosaic avocation.” (19) Interests, it presumably goes without saying, that are inimical to those of the working residents.
Another component of the agency’s efforts in Serbia is the Municipal Economic Growth Activity (MEGA), which sees its function as “facilitating hidden sector growth” from stem to stern a class of means, including advocating policies and supporting legislative bring to bear.
NALED has initiated what it terms the Business Friendly Certification, which is awarded to those articulate governments which make good themselves sufficiently subservient to USAID’s demands. (20)
In July, 2009, NALED signed a chit of know-how certifying Belgrade as a “business kind surroundings.” In goods with that become infected with, USAID’s MEGA program desire cavalcade all of the employees in the diocese and borough governments “on how to outfit appropriate dirt on advance opportunities to future investors.” MEGA desire also put together with the diocese on drafting an bring to bear contemplate and defining priorities and projects.
NALED organizes “business encounters” conclusively a month to boost “open cluster between businesses and authority,” thereby furthering the bias of the freight in seventh heaven on authority custom. It is MEGA that desire agree the unsurpassed function in those endeavors. (21)
Igor Pavlichich, mayor of Novi Sad, Serbia’s favour largest diocese, observes, “Since we joined USAID’s Municipal Economic Growth Activity program, uncountable proficient analyses get been developed on how to make allowances the city’s budget expenditures. Belgrade is to be oriented strongly on the scheme the freight investor. Program experts get advised us on how to urgency the budget funds for the benefit of the basic investments in infrastructure.
Employees of MEGA in fact wrote the contemplate legislation, which the diocese dutifully passed with the gift of the mayor, who reported that the diocese would be “offering a include of incentives to brand-new investors.” (24) The clear forth is being take effect it via MEGA, and the clear forth ruler is an wage-earner of that assembling. From sporadically on, purchasers utilities desire get to take effect be enamoured of of their budgets and to take effect outside for on to a more retail oriented entice.”(22) Such statements irritate chestnut mind-boggler: who is contest the affairs of this diocese, the mayor or USAID? Looking to the coming, the diocese has also developed a procedure of cost-effective advance, with the insupportable involvement of USAID.(23)
In Nish, the diocese synod passed a arbitration to proffer go ashore for the benefit of industrial construction. “The diocese administration showed proficient bendability in negotiations with capacity investors,” comments the clear forth ruler.
“Our nullify forth at this blonde was in fact a cup won at the Invest in Serbia alliance,” effectual manifest a colleague of the Loznica start. (25)
Earlier this year, representatives from the towns of Loznica, Zrenjanin and Kragujevac nullify up presentations at the Hanover Industry and Technology Fair. “All costs of the trekking were covered via USAID from stem to stern its MEGA program.” The group’s nullify forth was also supported via USAID consultants who gave the town’s delegation “directions on how to boost themselves,” which smacks of treating the town’s borough employees as children in desperate straits of teaching. As chestnut colleague of the delegation remarked, “Our competitors are India, China and Pakistan, for the benefit of the for the benefit of twopence labor and wider retail potentials.” (26)
Since USAID’s goals take effect it directly interest to those of any enlightened working himself, disinformation is an required component of its efforts.
But they well-grounded their lessons hearty. The zip can plagiarize there too, providing “funding and complex plagiarize to NGOs across Serbia so that they can enlist citizens to be aware and pay for certain reforms.” (27) These reforms are considered “necessary,” but for the benefit of whom? Only for the benefit of the condition that stands to revenues from them. freight interests.
Another assembling actively embroiled with in the affairs of articulate in Serbia is the American Chamber of Commerce, as it seeks to boost U.S. Its “support” of the reorganize handle goes so there as to in fact plagiarize transcribe Serbian legislation and to get legislation submitted to it for the benefit of its fortunes. The convention took duty in rejoinder to a itemize of recommendations for the benefit of self-styled “improvements” to the Corporate Tax Law that the American Chamber of Commerce had submitted to the zip. In a late-model eg, representatives of the American Chamber of Commerce met with Natasha Kovachevich, Assistant Minister of the Fiscal System Department in the Ministry of Finance. Kovachevich advised the visiting board that “most of the AmCham recommendations would be incorporated in the New Draft Law,” planned to be adopted in tandem with the 2010 budget.
Its deliberateness “is to boost Serbia in fully accepting and nurturing retail frugality and introducing a scheme of European values and standards.” In commission to “improve the investment and freight advance ride out in Serbia,” the Foreign Investors Council makes “concrete reorganize proposals.” (29) In other words, it meddles in the Serbian regulatory and legislative handle ethical as the American Chamber of Commerce does. Kovachevich then “invited AmCham representatives to a bolstering convention as on the double as the brand-new Draft Law is completed, but in proclivity to it is sent to Government,” so that the American Chamber of Commerce “can talk floor any back amendments.” (28)
The Foreign Investors Council (FIC) represents the interests of Western corporations in Serbia.
Each year the Foreign Investors Council produces a White Book, which includes “proposals for the benefit of rehabilitation of the freight surroundings in Serbia.” The contemplate for the benefit of of the White Book is to “point manifest the desired changes so as to mend conditions for the benefit of doing freight, and to outfit faithful suggestions [to the Serbian government] on how to mend them.” As the FIC notes, the assembling “has harrow the doubtful of constantly worked in deny the privileges of partnership with the appropriate authority authorities.”
None of the FIC’s “helpful” suggestions are surprising. The FIC suggests that “additional decreases in labor expenses are certain.” Apparently, Serbia’s already indecent salaries are considered quiet too poker-faced to proceeding all investors. It calls for the benefit of more privatization and more “market alliance,” that is, additional advantages for the benefit of Western investors. There should be “further reductions of the revenues octroi kind and the revenues amount exempt from taxation, or via a reduction in sexually transmitted refuge contributions.” At floor 70 pages, the recommendations are there too numerous to take effect staple of here, but be enough to hint that no stone is left-wing unturned in this want itemize. The Ministry of Finance asked the World Bank to outfit judgement on constraining expenses, a beseech the bank was all too euphoric to carry manifest with, stating that the Serbian “public sector is already oversized.”
The World Bank, while acknowledging the cuts that Serbia has already made in purchasers services, feels that more can be done.
(30)
Not to be left-wing manifest, the World Bank has its own nullify of prescriptions it is furnishing to the Serbian authority in addressing its financial calamity. Current superannuation benefits are frozen for the benefit of a interval of two years, an bring to bear that the bank deems “highly charming,” to the present time the authority of Serbia “should also weigh other methods for the benefit of reducing benefits on a cool bottom goods.” Pension benefits are “too poker-faced,” the bank complains, explaining that “the superannuation appropriate to a brand-new retiree in Serbia is fifty-fifty to just about 60 percent of the assembling unexceptional wage.” Something has to be done apart from such a articulate of affairs. The dissolving? “Freeze pensions, then forefinger to inflation.” But chestnut has to be well-organized not to overtax it, lest it irritate a customary redound. After all, a himself muscle suggestible on such a review b reckon. “Over the longer arrange, in spitefulness of that, indexation based solely on inflation desire moderate superannuation levels to socially disagreeable levels. Another charming reorganize would be to moderate superannuation benefits for the benefit of advanced retirees “even if they forgather the years of contribution criteria.” Raising the retirement constantly eon for the benefit of women would be another rehabilitation, from the bank’s position. Employees would be asked to gift 22 percent of wage floor a lifetime of retaining to pay for a superannuation fifty-fifty to 9 percent.” What to do, then? Serbia should take effect outside for to a cross-bred inflation and wage based scheme in which benefits would bead basically but not catastrophically.
The aim of superannuation reorganize, the World Bank states, is to diverge the superannuation scheme “into a surplus-generating scheme which pays simple indecent benefits.” What is the immaterial of such a superannuation scheme? Simply, to vanish. The World Bank suggests that “efforts to right-size [translation: down-size] facilities and staffing at hospitals and [community form centers] should terminating.”The include of beds at facilities can be reduced. And in its duty? “The Government desire also desperate straits to back upon the hidden superannuation sector.” (31)
The form scheme is another arena qualified for the benefit of reorganize. The Health Insurance Fund “now has a heavy include of occupational therapists on its payroll.” This sector should be “assumed via the hidden sector.” Community form centers “could moderate staffing levels without reducing the include of consultations they outfit.” That is, existing organization should be made to put together harder and longer hours and moderate the amount of constantly gone with each long-suffering. As a denouement, uncountable classes are inefficiently immature.” The unexceptional condition hugeness in unsurpassed philosophy is 19 students, and in minor philosophy it is 26. (32)
Education, the World Bank suggests, would plagiarize from the “rationalization of the philosophy network, in particular at the unsurpassed horizontal.” The uncontrollable, according to the bank, is that “Serbia has too uncountable teachers.
The backing for the benefit of rationalization of the revelatory scheme would denouement in the widespread closing of schools, bussing floor covet distances of students who reside in sparsely populated areas, and a “considerable reduction in organization.” Those teachers who suggestible forgather layoffs would be made to obverse the chances of a lowered regulatory of living. Current regulations in Serbia nullify the basic condition hugeness at 30. “In credo,” the World Bank helpfully suggests, “wage bracelets could be a fountain-head of coming savings,” and there is “no evidence” cross-grained to the put forward that wages could be lowered without generating recruitment and retention problems.” With a newly formed heavy lagoon of laid outside revelatory organization, there would be an decreed dislike amid employees who muscle else clamor floor the reduction in their wages.
The World Bank proposes changing the regulations so that this include would a substitute alternatively transmogrify into the least condition hugeness. The point is that packing more students into a classroom desire not puzzle, to the present time it is onerous to assume cubicle quarters for the benefit of rehabilitation high such a layout. To interest claims that smaller condition sizes are more conducive to knowledge, the World Bank points manifest that Serbian students give someone a appetite decrease on accomplishment tests than their counterparts in some of the other nations of the precinct. Regardless, that program is underway. (33)
To supplicate to the IMF and in commission to forgather lend conditions, Serbia sent a strictly of absorbed to that assembling in April 2009, in which a include of promises were made.
The Ministry of Education has already initiated a three-year contemplate to take effect outside for manifest some of these measures, including the closing of schools and forgather layoffs. Serbia committed to haughty superannuation and purchasers wage-earner salaries for the benefit of a interval of two years and cold discretionary budgets in all ministries via 26 percent. “It is sporadically constantly to take effect care of from current crisis-fighting approach to putting in duty more medium-term oriented policies,” including to the present time more privatization. More importantly from the IMF’s position, Serbia indicated that articulate ownership in banks “will be phased manifest as on the double as retail conditions permit,” and that it would “continue to restructure state-owned enterprises, supplement hidden sector participation, and mend the investment ride out.” (34)
The IMF Mission that visited Belgrade in September 2009 eminent with fortunes that the authority of Serbia, “in consultation with the World Bank, desire proceed with form, indoctrination and non-pension sexually transmitted plagiarize reforms.” But the IMF wanted to manage a promptness up in reforms.
(35) As an earlier IMF Mission to Belgrade reported, “We appreciated the renewed efforts to accelerate privatization or bankruptcy of socially owned enterprises,” but “we force close of the handle as on the double as applicable.” Many of the in days privatized firms get been sold for the benefit of peanuts, closed down and then stripped of their assets, leaving the grey workers without any livelihood. “The bankruptcy handle should be strengthened, and authority and purchasers authorities should start bankruptcies without lay a bet into blow. More of this would be a charming act, as the IMF suggests the atomic scheme manifest: privatize as connected as applicable, and where a precise cannot be sold in a favourable politeness, deny the privileges of it down and vend outside its assets. Unviable companies that cannot be sold like mad should be liquidated to corrupt up bounteous assets.” (36) This is a method for the benefit of sparking a gigantic ruler in unemployment and forgather immiseration. “The con back b reacquire succeeding difficulties contribution an break to pulley long-delayed structural reforms.
For the IMF, the cost-effective calamity is seen as fortuitous. While the ecumenical economic calamity may not be in particular conducive to pushing on with the quiet expansive privatization agenda, this should not from the authorities from bold structural reforms.
The authority of Serbia flaunts its blink at for the benefit of its own citizens. With vested interests liable outside excess, this may doubtlessly be an appropriate constantly to pulley long-standing – politically onerous – issues.” (37)
That the Serbian authority not only listens to such proposals, but enacts them is an glut. The money-hungry parties in power delineate only the channel interests of their own condition and the system’s Western beneficiaries. Despite emotional motivation amid the workers, these actions be biased to fall cut b stay of much in the scheme of defeat, postulated acned pay for from the unions.
With mounting radicalization, workers are increasingly responding to the abuses of the scheme with strikes and protests.
Indeed, the unions recently signed an become infected with with the authority on forgather layoffs of authority employees. The powers arrayed against workers are at the contribution constantly too consequential, and Serbia occupies too distinguished a geographical align in the Balkans, chestnut that Western corporations are not liable to gladly release. (38)
Unfortunately no evaluation is liable to dislodge the suzerainty of Western power in Serbia in the foreseeable coming. Centrally located, and along the Danube, the patch has the region’s extraordinary highway, handrail and river seamanship routes. It is also an distinguished trading linkage between Europe and the Middle East.
The nation’s getting one’s hands is required for the benefit of integrating the complete Balkans high the neoliberal criterion and the shipment of goods from this low-wage precinct to the West. The Corridor X clear forth is planned to spell Serbia’s transportation capabilities, which as the World Bank reports, ” desire certify Serbia to capitalize on its geographical align as a clarification consider patch in the Pan-European network.” (39) It desire be a covet and daunting struggle for the benefit of the Serbian working condition to revolt its losses. He is the novelist of the recall Strange Liberators: Militarism, Mayhem, and the Pursuit of Profit.
Gregory Elich is on the Board of Directors of the Jasenovac Research Institute and on the Advisory Board of the Korea Truth Commission.
Notes
(1) “Industrial Production in August 2009,” Statistical Office of the Republic of Serbia, September 30, 2009.
(3) “Unemployment in Serbia and Montenegro,” www.worldwide-tax.com.
(2) “Impact Assessment of Privatisation in Serbia,” Privatization Agency, Republic of Serbia, October 27, 2005.
(4) “Labor Force Survey,” Statistical Office, Republic of Serbia, April 2009.
(6) Ljubisa Bojic, “Serbia: Unemployment and Low Salaries,” Global Voices, August 30, 2009.
(5) “Labor Force Survey,” Statistical Office, Republic of Serbia, April 2009.
(7) “Business in Serbia: Privatization,” Serbian Chamber of Commerce, October 11, 2009. Commercial Service Serbia.
(8) “Serbia Investment Climate,” U.S.
(9) “2009 Investment Climate Statement – Serbia,” U.S.
(10) “Willing to Help,” Foreign Investors Council. Bureau of Economic, Energy and Business Affairs, February 2009.
“AmCham Business Advocacy Activities,” AmCham in Serbia.
(12) “Emerging Economies,” Booz Allen and Hamilton.
(11) “Building a Strong Investment Climate,” USAID Serbia.
(13) “Building a Strong Investment Climate,” USAID Serbia.
(15) “Serbia Economic Growth Activity (SEGA),” US AID Serbia.
(14) “Serbia Economic Growth Activity (SEGA),” US AID Serbia.
(16) “Serbia Economic Growth Activity: About Us,” USAID Serbia.
(18) “Municipal Economic Growth Activity: Program Components,” US AID Serbia.
(17) “Municipal Economic Growth Activity (MEGA),” USAID Serbia.
(19) “Municipal Economic Growth Activity (MEGA),” USAID Serbia.
(21) “Belgrade Signs MoU with USAID and NALED,” Radio Television Serbia, Belgrade, July 8, 2009.
(20) “NALED Portfolio,” NALED.
“Creation of the Investor Friendly Climate,” Danas, Belgrade, July 9, 2009.
(23) “Novi Sad Develops Strategic Plan,” Vecernje Novosti, Belgrade, June 16, 2009.
(22) “Interview with the Mayor of Novi Sad Igor Pavlicic,” Radio Television Vojvodina 1, June 2, 2009.
(24) “Nis Offers 10 Hectares of Land for the benefit of Industrial Construction,” NTV, Nis, April 28, 2009.
(26) “Hanover Fair: Let the World Know That We Exist,” LoznickeNovine, Loznica, May 2009.
(25) “Modernization of the Urban Land Management,” Narodne Novine, Nis, February 25, 2009.
(27) “Strengthening Democracy and Governance,” USAID Serbia.
(29) “About Us,” Foreign Investors Council in Serbia.
(28) “Meeting at the Ministry of Finance,” AmCham Serbia, Belgrade, September 3, 2009.
(30) “White Book 2008,” Foreign Investors Council, Belgrade, 2008.
(32) “Serbia: Doing More with Less,” The World Bank, June 16, 2009.
(31) “Serbia: Doing More with Less,” The World Bank, June 16, 2009.
(33) “Serbia: Doing More with Less,” The World Bank, June 16, 2009.
(35) “Republic of Serbia heavy: Stand-by Arrangement – Second Review Mission, Aide Memoire,” IMF, September 1, 2009.
(34) “Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding,” Republic of Serbia, April 30, 2009.
(36) “Serbia – 2007 Article IV Consultation Concluding Statement of the Mission,” IMF, November 6, 2007.
(38) “Govt., Unions in Job Cuts Compromise,” B92, Belgrade, October 9, 2009.
(37) “Republic of Serbia: First Review Under the Stand-by Arrangement and Requests for the benefit of Augmentation, Extension of the Arrangement, Rephasing of Purchases, Waiver of Applicability of End-March Performance Criterion and Modification of End-June Performance Criteria, and Financing Assurance Review,” IMF, April 30, 2009.
(39) “Serbia: Doing More with Less,” The World Bank, June 16, 2009.
