Serbia: Economic situation

17-07-2015

For decades, Serbia’s economy has been in a state of ongoing crisis. It was severely weakened by the long period of international economic sanctions, the civil war, and the damage caused to infrastructure and industry in the 1990s. The international financial crisis and multiple rounds of elections also delayed necessary reforms. In 2014, Serbia started negotiations for EU membership. In economic terms, it aims to build a fully functional market economy, by addressing overdue reforms. Economic recovery is a top priority for the government elected in 2014. The challenge is to achieve growth, competitiveness and new jobs in a tight fiscal environment.

For decades, Serbia’s economy has been in a state of ongoing crisis. It was severely weakened by the long period of international economic sanctions, the civil war, and the damage caused to infrastructure and industry in the 1990s. The international financial crisis and multiple rounds of elections also delayed necessary reforms. In 2014, Serbia started negotiations for EU membership. In economic terms, it aims to build a fully functional market economy, by addressing overdue reforms. Economic recovery is a top priority for the government elected in 2014. The challenge is to achieve growth, competitiveness and new jobs in a tight fiscal environment.