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About Serbia

Overview

Serbia is a modern country and democratic European country on a path to the membership in the European Union. The Stabilization and Association Agreement (SAA) with the EU eas signed in April 2008 and ratified in January 2011, leading to Serbia being awarded an EU candidate status in 2012. Negotiation for accession to the EU officially began in 2015, and the Government of the Republic of Serbia plans to be ready for accession in 2020.

Position and Climate

Serbia is located in the central part of the Balkan Peninsula, on the most important route linking Europe and Asia, occupying an area of 88,407 square kilometers. It is divided into five regions (Belgrade Region, Vojvodina Region, Sumadija and Western Region, South and Eastern Region and Kosovo-Metohija Region), which include the City of Belgrade as a special territorial unit and 29 administrative districts.

The length of Serbia's border is 2,361.7 km (land border 1,567.3 km, river border 751.1 km and lake border 43.3 km). Serbia borders Bulgaria to the east, Romania to the north-east, Hungary to the north, Croatia and Bosnia-Herzegovina to the west, Montenegro to the south-west and Albania and Macedonia to the south. Serbia is in the Central European Time zone (one hour ahead of Greenwich Mean Time). Its climate is temperate continental, with a gradual transition between the four seasons.

Key Macro Data

Official Name Republic of Serbia
Form of State Democratic Republic
Government Unitary Parliamentary Constitutional Republic
Area 88,499 km2
Population 7,186,682
Position Central Part of the Balkan Peninsula
Capital Belgrade
Official Languages Serbian
Currency Serbian Dinar (RSD)
GDP* $37.740 billion
GDP/Capita $5,267
Time Zone Central European (GMT + 01:00)
Calling code 381
Internet TLD .rs

Source: Serbian Government, Statistical Office of the Republic of Serbia, RAS

Key Economic Data

Serbian economy went through a series of challenges since the year 2000, when major changes occurred in Serbia’s political system. After an initial growth of the gross domestic product driven by a substantial increase in foreign direct investments, Serbia felt a major impact of the international financial crisis which resulted in job reduction across all sectors and a negative growth of GDP.

Strong relaxation of NBS monetary policy, structural reforms implemented so far and loose global financial conditions resulted in significant increase of new investment loans. New investment loans were 2.5 times higher in 2015 compared to 2014. Well spread across the economy, these loans gave additional stimulus to private investments which led GDP growth in the last year.

GDP growth is expected to accelerate to 2.5%-3.0% in 2016, mainly due to monetary policy relaxation, improved business climate, structural reforms and external demand recovery, and will also be investment driven. The government excepts CAGR to be around 3.0% during 2016-2020.

Connections

Serbia is referred to as the cross-roads of Europe. The international roads and railways passing down its river valleys make up the shortest link between Western and Central Europe, on the one side, and the Middle East, Asia and Africa, on the other. Hence the geopolitical importance of its territory. These roads follow the course of the valley of the river Morava, splitting in two near the city of Nis. One route follows the valleys of the rivers Juzna Morava and Vardar to Thessaloniki; the other, the Nisava River to Sofia and Istanbul.

Serbian rivers belong to the basins of the Black, Adriatic and Aegean Seas. Three of them, the Danube, Sava and Tisa, are navigable. The longest river is the Danube, which flows for 588 km of its 2,857 km course through Serbia. The Danube basin has always been important for Serbia. With the commissioning of the Rhine-Main-Danube Canal in September 1992, the Black Sea and the Near and Far Eastern ports have come much nearer to Europe. Serbia is linked to the Adriatic Sea and Montenegro via the Belgrade-Bar railway.

Airport Nikola Tesla

Area near Surčin, 18 kilometers westward from Belgrade is selected for the location of the new international airport.

In July 2005 six contemporary telescopic passenger boarding bridges were introduced, in May 2006 reconstructed international Terminal 2 was put into operation and since November 2008 Belgrade Nikola Tesla Airport can be used in full capacity in conditions of extremely low visibility due to ILS CAT IIIb equipment and procedures which was for the first time in history of Belgrade Airport used on January 4, 2009.

Belgrade Nikola Tesla Airport is a hub for flag carrier Air Serbia, charter carrier Aviogenex so as for Wizz Air, Government Air Service, Air Pink, Prince Aviation and others. Belgrade Nikola Tesla Airport accommodates technical maintenance company Jat Technics Ltd and technical maintenance of Aviogenex, operational departments of Air Serbia, Air Traffic Control and Customs Authority, Air Museum, Air Serbia and SMATSA Training Centers, Helicopter Unit of the MoI, etc.

Source: Airport Nikola Tesla

Belgrade - Capital City

The capital of Serbia is city of Belgrade (Beograd). It is one of the oldest cities in Europe and since ancient times it has been an important traffic focal point, an intersection of the roads of Eastern and Western Europe.

Belgrade is situated in South-Eastern Europe, on the Balkan Peninsula. It lies at the point where the river Sava merges into the Danube, on the slope between two alluvial planes. The river waters surround it from three sides, and that is why since ancient times it has been the guardian of river passages. Because of its position it was properly called "the gate" of the Balkans, and "the door" to Central Europe. Along the ridge of the slope, from Kalemegdan, along the Knez Mihailova street, across Terazije to Slavija, stretches the main city traffic artery.

Belgrade, a city of very tumultuous history, is one of the oldest cities in Europe. Its history lasts full 7,000 years. The area around two great rivers, the Sava and the Danube has been inhabited as early as palaeolithic period. Remains of human bones and skulls of Neanderthals, found in the stone-pit near Leštane, in a cave in Čukarica and near the Bajloni market, date back to the early Stone Age.

It is Belgrade where the most significant works of architecture are located, with Kalemegdan accommodating Belgrade Fortress, cultural monuments and other immovable cultural treasures, numerous archeological sites with remnants of developed civilization and culture on Belgrade territory from prehistory until this day.

Belgrade is the centre of culture and art of Serbia. It is Belgrade where our most notable artists create, where over 9.000 theatrical performances, exhibitions, concerts, performance events, and other artistic programs are presented and where prominent authors in the world of art are hosted. Belgrade is the centre of the highest state and national institutions of culture and art: Serbian Academy of Arts and Sciences, the National Library of Serbia, the National Museum, the National Theatre and the University of Arts.
Source: Ministry of Foreign Affairs of Serbia