WHAT THE PANDEMIC HAS TAUGHT US COMMENT

What The Pandemic Has Taught Us

If the new reality that we've entered had to be summarised in a telegraph, its key words would be solidarity, putting people first, commitment to reform, dialogue and digital transformation. In the future, the bar that's been set during the pandemic should be raised constantly

Somewhat surprising data for June and July arrived recently, showing that the recovery of the Serbian economy is happening much faster than we'd expected, and that's happening primarily in the equal conditions of doing business for all and transparency. Every crisis, and particularly such a strong one as this, leads to the loss of a large number of jobs, and, according to IMF forecasts, between 140,000 and 160,000 will be lost fields of industrial production and foreign trade. However, in Serbia. Of course, this also means that a large number to a great extent, how long such trends will last depends of companies, primarily small ones, will collapse. At the primarily on world trends, where the biggest contraction same time, such conditions also lead to the birth of some in trade since World War II is expected, as well as a drop new business initiatives and new ways of working within in the level of foreign investment by a minimum of 30 to existing business structures, or completely new ones. 40 per cent. If we had to draw several conclusions from the course

Experts believe that, under such of the crisis to date that would be relecircumstances, Serbia must work on the diversification of production and In the time that follows, both the vant for the period ahead, they could be these: investing in reforms pays supply, which could also be an incentinew government of Serbia and the off, because if that weren't the case ve for attracting new forms of foreign economy face a period in which then Serbia would not have met such direct investment. The need for a new growth model little can be predicted. According a crisis with a far better fiscal position than the one it had earlier; an honest, isn't a new topic. It has been discussed to IMF forecasts, we will probably thorough and timely dialogue with all in Serbia for several years by both experience an even deeper economic stakeholders in the economy is key to international financial institutions and local experts. This new model downturn, with unknowns regarding success, both in crisis situations like a pandemic and in “peacetime” periods; envisages the shifting of the backbone the scale of the pandemic and anyone who entered into the process of growth to the newly formed struthe promise of a vaccine that will of digital transformation, either prior cture of larger and smaller Serbian enterprises, primarily exporters, whimake life easier, but in some new to the crisis or under the forced circumstances of the crisis, increased ch emerged in the company of large reality. That reality now needs to be their chances of overcoming existing foreign investments that contributed embraced creatively market challenges and preparing for to building a modern economic struthe new period of pronounced digital cture on the ruins of the old system communication; Last but certainly not after the 2000s. least, the crisis has shown us that people – their health and

Such a model does not renounce foreign investments, safety, solidarity, responsibility towards others, colleagues, of course, but does imply a different approach in attracting companies and society – form the basis for building comsuch investments, based primarily on the creation of a munities that will be able to respond to existing challenges business environment that will be based on the rule of law, and new ones that emerge. ■