Economy of Serbia before the breakup of the SFRY was in deep crisis. This particularly
applies to the period after the 1980th year. The growth rate of GDP declines from year to year,
inflation is rising - from the early 80th double-digit to four-digit at the end of this decade, and
parallel decline employment and labor productivity, while the deficit and external liquidity of the
country are becoming alarming. Economic crisis, of course, was not a phenomenon that is
mastered only Yugoslavia, but almost all socialist countries faced with crisis. The transition from
socialism to capitalisam on a global scale was followed as a response to the crisis.
The results of the transition of Serbian economy were very disappointing in the first ten years.
Serious dilemma at the beginning of the transition process represented a choice of the way and
the model of privatization of enterprises. Instead of a comprehensive privatization, supported
social ownership. Followed years of economic sanctions, hyperinflation and war. As a result of
social differences have become prominent, and the production and GDP growth were low or
negative trend. With the political changes of October 2000. the running process of intensive
economic reforms. The reforms have been most intense in the first three years, but they later
came the swing in their intensity. The result of these processes is obvious socio-economic
progress of Serbia. However, the relatively high rate of economic growth achieved by increasing
fiscal and trade deficit, is unsatisfactory level of inflation, high unemployment, low domestic
savings and high level of external debt. Macroeconomic imbalances and risks have been growing
year after year, primarily due to unformed institutions, high public spending, the slow process of
Serbian approaching the Europe union, insufficient export and inflow of foreign direct
investment. Overall Serbian economy is still in the stage of reimbursing the deep fall caused
during the nineties.
The world economic crisis has arrived in Serbia at the end of 2008th year and it has
interrupted the process of reforms. Our country is affected, primarily due to less availability of
foreign capital, which reduce lending and knocked domestic demand. Matter further aggravates
the decline in exports, which is driven by the decline in production and import demand in almost
all European countries, our trading partners. After eight years of progress, world economic crisis
has led to a significant decline of real wages, consumption and production.
Doctoral dissertation, entitled "The world economic crisis influence to the Serbian economy
prospect and situation", provides answers to the above challenges, and determine the manner and
priorities for the exit from the economic crisis and further development of economy of Serbia. In
this respect, the first examines the state of economy of Serbia until spilling the world economic
crisis, and then gives insight into the impact of the crisis on the domestic economy. A key part of
the work is the vision of the future economic development of Serbia and the manner of its
realization