Effects of the global economic crisis on the economy and the food industry in Serbia | Uticaj globalne ekonomske krize na privredu i prehrambenu industriju Srbije
2010
Carić, M.Đ., Univerzitet Privredna akademija, Novi Sad (Serbia). Fakultet za ekonomiju i inženjerski menadžment | Vapa-Tankosić, J.M., Razvojna banka Vojvodine a.d., Novi Sad (Serbia)
The current global economic crisis has not bypassed the Republic of Serbia. The registered flight of capital, increase of interest rates, depreciation, and the fall of stock market prices, have been firstly registered in the financial sector. Further on, the whole economy has been weakened by the fall of industrial production and the slow down of the whole economic activity, encompassing the fall of budgetary revenues. Contrary to the initial optimistic forecasts of our analysts the industrial production in 2009 has been decreased by 17,1%, in comparison to the previous year, while the processing industry, including the food industry has been, in the same period, decreased by 24%. In parallel with the fall of production we have witnessed the significant fall of exports. This paper aims to identify the main developments leading to the global economic crisis and present its’ effects on the economy and food industry of Serbia.
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