Vucic: Nuclear energy required for higher growth rates

BRUSSELS - Speaking at the first Nuclear Energy Summit, hosted by the International Atomic Energy Agency (IAEA) and the Kingdom of Belgium in Brussels, Serbian President Aleksandar Vucic said on Thursday the summit was very important for Serbia and the entire European continent as everyone needed more energy to achieve higher growth rates and accomplish great plans in the future.

"You cannot learn a lot from Serbia on these issues because, after the breakup of the former Yugoslavia, we have not had any experiences with nuclear energy, but I believe that this summit is of the utmost importance for the future of my country as well as for the future of the entire European continent, and much more important than many meetings, gatherings and forums we have attended so far," Vucic said at the summit's first session, addressed by national leaders.

"Why do I believe this is very important? We are all ready to discuss big plans, big things in the future and for the future, but we do not know how to implement them. Number one, we said we need to at least double the production of military ordnance, armament, weaponry and everything else. Then, we need to boost our growth rates," he said, noting that European growth rates were small.

He said Serbia faced three problems in that regard: a lack of know-how and experts on the use of nuclear power, a lack of funding and the present mindset of the people.

He said Serbia was interested in getting at least four small modular reactors (SMRs) that would substitute 1200 MW worth of power generators, but added that he did not know how the effort would be financed as it would cost 7.5-8 bln euros, noting that Serbia needed support from leading EU states.

He also said changing the mindset of the people was not simple but would be done, as well as that Serbia would adapt and change its legislative framework.

Vucic also noted that, if the "terrible security situation" and wars continued, the question would arise of how these projects could be financed and how growth rates and production of military equipment would be raised.