Uzroci duboke ekonomske krize u Srbiji
Causes Of The Profound Economic Crisis In Serbia

Summary/Abstract: The Prime Minister of Serbia as well as many economists and academics have claimed for months that Serbia has come out of the economic crisis. In accordance with this claim they have announced, projected or planned a GDP growth of 3 % in 2011, and for the period of 2011-2020 an average growth rate of no less than 5.8 %. Unfortunately, very many indicators show that the claim that Serbian economy is in very serious crisis is right. Besides, Serbia is also in very serious social crisis and the the two crises are mutually supportive. The officials and many economists state that the main cause of the economic crisis in the country, which was especially evident in 2009 and 2010, is the world economic crisis. This crisis has undoubtedly influenced the Serbian economy leading to a decrease in export, a fall in foreign direct investment, and some other negative trends. However, Serbia has had some benefits from the world economic crisis, primarily in terms of the dramatic decline of prices of crude oil at the world market, and a few other raw materials which are imported into Serbia. Moreover, the world economic crisis has had as its consequence the crisis in agriculture in many developed countries, which has led, together with some other unfavourable conditions, to a dinamic increase in the cost of a number of agricultural products and some basic foodstaffs at the world market. The situation has been favourable for Serbia which has increased significantly its export of agricultural products and foodstaffs, thus raising its trade surplus. Due to its erroneous concept of economic reforms, Serbian economy has been going downwards since the beginning of 2001 and when the world economic crisis emerged, Serbia has already been in the crisis for a long period, with the crisis being significantly deepened in 2009 and 2010.

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