A Brief Overview of State Aid Policy in the Republic of Serbia
DOI:
https://doi.org/10.56362/Rev24105061MKeywords:
state aid, horizontal and vertical state aid, Serbia, market competition, small and medium enterprises (SMEs)Abstract
State aid is an awarded subsidy or other form of government assistance that distorts competition or the free market functioning. The rules on granting state aid are strictly regulated by the Treaty on the Functioning of the European Union (EU), while Serbia must comply with them on its way to EU membership. This article analyses the nature, scope and structure of state aid in Serbia granted in the period from 2012 to 2020. Although Serbia spends significantly more funds and has a less favourable state aid structure than the EU-27 average, it nevertheless made favourable shifts towards increasing horizontal and decreasing vertical state aid. Nevertheless, in the future, the country will have to encourage the further allocation of non-selective horizontal aid, especially one that is intended for training, the development of SMEs and innovation.
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