Localization of the Serbian economy

Nenad Pešić, from the Egzakta Company, talked about the results of the study ‘Localization of the Serbian Economy’ conducted by his company. According to Mr Pešić, as a team, Egzakta not only invests in its employees but also in the education of the market via various publications and studies.

“We believe that the Republic of Serbia is currently at a historical turning point where it needs to make smart and correct decisions. We also believe that the localization of the Serbian economy is the right path to take. Localization is a process of strategically directing the economy towards the development of local business. Successful implementation of the localization is possible only in a structured way and if all interested parties take part in the process,” Mr Pešić explained.

The pandemic has reduced the effect of globalization with restrictive measures, which is noticeable in a significant decline in the import and export of goods worldwide. This has led to localization being a new trend instead of globalization. Reducing dependence on other countries can be done through domestic production, which in turn, will encourage economic recovery throughout and after the COVID-19 pandemic.

Mr Pešić went on to talk about the importance of the ongoing global change with historical examples: “We have identified close to twenty historical moments in which Serbia, as a country with a very rich history, often had the opportunity to make strategically important decisions – from the Berlin Congress to Yugoslav coup d’état and NATO bombing. We often chose the wrong path, which led us to great suffering, and today we are again at a turning point, where we have to choose the right path.”

In order to devise successful proposals for Serbia’s economic growth, Egzakta has analysed demographic, prosperity and economic indicators.

“Systematic development of the business climate, economy and consumers will enable Serbia to gradually move towards localization. We, at Egzakta, believe that localization should be gradually developed under the auspices of the National Plan for Economic Transformation, following the proposed methodology,” concluded Mr Pešić.

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