Serbian Minister of Trade and Services Slobodan Milosavljevic stated in Novi Sad on Friday that 2011 will also be a difficult one, but that this year's results show that Serbia is progressing to a full economic recovery.

“The country's GDP increased by 2.1 percent in the third quarter of the year, and compared to 2009, this growth will total 1.6 to 1.9 percent on the annual level. Industrial production in 2011 will increase by 3 to 4 percent, while exports will rise by as much as 20 percent and equal almost one half of the country's import,” Milosavljevic said at a news conference at the Belgrade Commodity Exchange.

According to the minister, Serbia's debt of EUR 23.1 billion, or around EUR 3,000 per capita, is not discouraging and ranks as one of the lowest debts in Europe.

“This year, we can be dissatisfied only with the price rise and the exchange rate, but I still believe that Serbia proved to be an attractive market for foreign investors. By adopting a number of laws and other measures, including the law on commodity exchanges, we will do everything to additionally boost the country's attractive offer,” the minister pointed out.