In 2012, Mali was appointed the advisor for economic affairs to the First Deputy Prime Minister
Aleksandar Vučić. A year later, Mali was appointed the Chief Negotiator with investors from the
United Arab Emirates. He conducted negotiations on a strategic partnership between the then state-owned company JAT and
Etihad Airways that resulted in the establishment of
Air Serbia. After the
2014 election in Belgrade, Mali was elected as a Mayor on the proposal of the winning
Serbian Progressive Party. From the very first moment of his appointment in 2014, Mali initiated a comprehensive financial
consolidation program in order to achieve sustainable fiscal stabilisation. During his tenure as the Mayor of Belgrade, Mali managed to halve the debt of the city of Belgrade, which in 2014 amounted to 1.2 billion euros, and to reduce the budget deficit by four times. Mali conducted a debt consolidation of
public utility companies, which in the first three years of his tenure resulted in the net profit of 9.5 billion dinars. He managed to galvanize a significant number of investments’ projects that contributed to low unemployment. The most significant is the new hub project “
Belgrade Waterfront” (total worth 3.5 billion euros), the opening of the first
IKEA store and
Hilton Hotels & Resorts’ brand in Serbia, as well as the opening of the Chinese automotive parts factory MEI TA Europe Ltd. During Mali's tenure, Moody's Public Sector Europe (MPSE) upgraded the City of Belgrade's long-term issuer rating to Ba3 from B1; the rating's outlook has been changed to stable from positive. Mali's tenure as the Mayor of Belgrade was marked by numerous significant infrastructure projects such as completion of the
Pupin Bridge over the river
Danube, Košare's heroes Boulevard, water factory "Makiš 2", as well as the complete reconstruction of
Slavija Square, Boulevard of Liberation, Roosevelt Street and Mije Kovačević Street. The railway station "
Belgrade Center" (Prokop) started to operate after 40 years. The projects of expansion of the pedestrian zone in the city of Belgrade and facade restoration were initiated. Agreements were signed for the construction of a waste processing plant in
Vinča, wastewater treatment plants in Veliko Selo and for the construction of the
Obrenovac -
Novi Beograd heating plant.
Minister of Finance On 29 May 2018, he was appointed the Minister of Finance of the Republic of Serbia in the cabinet of
Ana Brnabić, after the resignation of
Dušan Vujović three weeks earlier. Mali was elected four times as Minister of Finance, and currently holds the position of First Deputy Prime Minister, to which he was elected in May 2024. At the beginning of his tenure as the Minister of Finance, Mali has emphasised the two main goals; maintenance of the
macroeconomic stability and achievement of the greater economic growth. In the first year of his tenure, the new set of laws has been passed with the aim to contribute to a better economic environment, reduce the tax burden on labour, incentive beginners in business, increase pensions and public sector salaries and the modernize Tax Administration. During his mandate, Serbia became one of the fastest growing economies in Europe, unemployment is at a historically low level, and employment is at a historically high level. Serbia attracts a record number of foreign direct investments, and a number of reforms have been implemented to improve the economic environment, such as e-invoices, e-fiscalization, e-shipping forms. Thanks to good results, the Ministry of Finance during the corona virus pandemic helped the economy and citizens with a package of nine billion euros, which preserved the level of economic activity. Accordingly, the Ministry he leads is an investor in the construction project of the Expo complex and the National Stadium, and also leads the working group for the construction of the Belgrade metro, which began after several decades. Mali led comprehensive fiscal reforms and strategic initiatives that resulted in Serbia achieving its first-ever investment-grade credit rating, improving fiscal discipline, managing public debt, and boosting investor confidence. Collaborated with international financial institutions and credit rating agencies to secure this historic milestone, enhancing the country's economic stability and global financial standing. As Minister of Finance, he was appointed Governor of Serbia in the World Bank, European Bank for Reconstruction and the Asian Infrastructure Investment Bank. He is the President of the Coordination Body for the Prevention of Money Laundering and the Financing of Terrorism. He is also the President of the Coordination Body for the Suppression of the Gray Economy. He is a member of the Council for Economic Development. Mali held the position of a member of the Presidency of the
Serbian Progressive Party until November 2021, when he was elected as one of the vice presidents of the party. == Corruption investigation ==