Serbia votes in snap polls overshadowed by gloomy economy

Image
AFP Belgrade
Last Updated : Mar 16 2014 | 12:56 PM IST
Polling stations opened in Serbia's snap elections today, with the ruling Serbian Progressive Party (SNS) tipped to capitalise on a wave of public support after successfully opening EU membership talks.
Some 6.7 million voters are eligible to cast their ballots to elect a new 250-seat parliament with a four-year mandate in the early vote called after Belgrade launched talks in January to join the European Union.
Long seen as a pariah for its role in the 1990s Balkan wars, Serbia, the largest country to emerge after the break-up of Yugoslavia, now hopes to join the 28-member bloc by 2020.
The outgoing government led by Socialist Prime Minister Ivica Dacic won support from Brussels to begin membership talks only after a historic accord with its long-time foe Kosovo last year.
But Kosovo, once the most sensitive issue in Serbia which still refuses to recognise its 2008 declaration of independence, has now been overshadowed by the dire economic situation in the country of 7.2 million people.
A fifth of Serbia's workforce is unemployed and the average monthly salary is 350 euros (USD 480).
With public debt rising to more than 60 per cent of GDP, the future government will have to reform obsolete labour laws and cut down on burgeoning bureaucracy, experts say.
The ruling centre-right SNS and its leader Aleksandar Vucic -- a fierce ultra-nationalist turned pro-European -- said a new mandate was needed to push forward with "difficult and extremely painful economic reforms."
"We need a landslide victory to create new jobs, firmly pursue reforms and fight corruption with full force," Vucic told supporters at a final rally this week.
Serbia's eight-billion-euro budget (USD 11 billion) struggles to deal with some 1.7 million pensioners and a bloated public sector that employs more than 700,000 people.
The future government will have to push through a stringent austerity package, including the privatisation of more than 170 state-owned companies, subsidy cuts and tax increases in a bid to reduce spending and get people back to work.
But 64-year pensioner Borivoje Mikic said he expected no change after the polls.
"We bear the brunt of everything. The barn is the same, only the animals in it change," Mikic told AFP after casting his ballot.
Despite the gloomy economy, the SNS is riding high in the polls with 44 percent of voter support.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 16 2014 | 12:56 PM IST

Next Story