Analysis of socio-economic movements in Serbia in the circumstances of crisis

Abstract

In the paper social and economic indicators of crisis have been analysed. Before the world economic crisis outbreak, the economic growth in Serbia was based on the exaggerated public and personal expenditure and expansion of aggregate demand. The overflow of the world economic crisis from financial into real sector including the deepening of domestic crisis, had for its consequence macroeconomic and social imbalance in the economy which was reflected in the following: drop of brut domestic product, increase of foreign trade deficit, decreased volume of foreign direct investments, increase of the poverty and unemployment rate. Educational system, as one of key generators of the total growth and economy development, does not still produce human resources which by its knowledge and skills can fight the challenges, and create positive changes in the economic surrounding. In that context, concrete development politics in Serbia must be more and more focused on the development of human capital and improvement of educational system which should become the initiator of new developing cycle.

Keywords

• economic crisis
• brut domestic product
• foreign direct investments
• foreign trade
• unemployment rate
• poverty rate
• (entrepreneurial) education