Year Completed: 2015
Serbia’s political landscape changed decisively in May 2008 with the election of the pro-European coalition, solidifying the country’s commitment to join the European Union (EU). With unemployment close to 20% and the private sector unable to create jobs fast enough, Serbia requires a strong business enabling environment and stable macroeconomic fundamentals to fulfill its aspirations for economic growth and membership in the EU.
As a sub-contractor to Cardno Emerging Markets Group, IBI collaborated with Cardno experts and the Government of Serbia counterparts to implement USAID’s four-year Serbia Business Enabling Project (BEP). Started in January 2011, BEP aimed to help the Government of Serbia improve the competitiveness of the Serbian economy. Through targeted technical assistance and training, the project improved the business enabling environment, support macroeconomic stability, further develop financial markets, and strengthen the capacity for business and financial management within government and the private sector.
Under BEP, IBI experts focused on developing targeted technical initiatives to improve macroeconomic policy, fiscal and debt management, and financial stability, building the capacity of government analysts to engage in informed macroeconomic and fiscal policy formulation and analysis. Designed to strengthen Serbia’s macroeconomic fundamentals and its fiscal outlook, these interventions contributed to maintaining a strong credit rating for Serbia, a key determinant of international and local investment.