World Bank 

Year: 2018

In the Report we present an additional factor, one that we expect will play an even more important role now that economic growth has accelerated in Europe and Serbia’s fiscal adjustment has been completed. It is in the economy’s atypical structure: a sophisticated economy and skills and resources exist, but they are limited in size, and have a spotty distribution – akin to a leopard’s skin – both across industries and geographically. This structure is the result of a slow and uneven transformation of the traditional economy – built during socialist times – throughout the country’s protracted transition, which produced an uneven deterioration and loss of the skills and resources held in it.

Report