Even by 1995, only 200 of the 1500 enterprises scheduled for privatisation had passed into private hands. Croatia also suspended the federal scheme and introduced its own in April 1991, but its main results were with small enterprises. Privatisation Serbia introduced its own privatisation legislation in August 1991, in the midst of its war with Croatia. Serbia's privatisation legislation was based on the previous federal legislation, allowing workers and managers to buy out firms. Behind these shares, however, hide several hundred managers, from the Socialist Party, who make business dealings of a frankly capitalist character and virtually thieving manner, taking the lion's share.
Most state ministers are also big business people.
Milosevic's son Marko owns the duty free shops at Serbia's borders and airports. He was assassinated just after the latest privatisation plan was announced in October 1997 and a scramble for spoils began. The economic sanctions on Serbia during the Bosnian war helped build this elite while ordinary Serbs suffered. It was deposited in their private accounts in Cyprus and Moscow. Foreign Interests Milosevic has continued selling strategic parts of the Serbian economy.