By Marat Terterov
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Extra info for Doing Business with Serbia (Global Market Briefings)
Therefore, it is sometimes better to use the Cyrillic alphabet in official communication with state organs. Street names are usually in Cyrillic only and therefore foreigners are advised to learn the Cyrillic alphabet if they decide to work in Serbia. Conclusion A decade of isolation and international economic and political sanctions has had serious consequences both for the economy and the political stability of Serbia. The downfall of the regime of Slobodan Milosevic did not automatically bring political stability.
However, the results achieved in foreign economic relations felt short of expectations. 4 billion in 2004. This deficit is more than twice the value of exports, which points to the low level of competitiveness of the 1-905050-14-3_P01_18_02/20/2006 18 Background to the Market domestic economy, threatening to affect the hitherto positive macroeconomic results. 3 per cent of GDP. The domestic supply is still not matched with the demand on the world market, which is also evidenced by the pattern of foreign trade.
5 per cent respectively. 6 per cent) but, in 2004, output and exports increased again (the expected growth rate of GDP in 2004 is about seven per cent). As for the structure of GDP, it is evident that the economy relied mostly on the primary and secondary sectors (whose output accounted for about 60 per cent). 1), while the share of the private sector exceeded one-third of GDP. 1 per cent, and this growth resulted from the production of base metals, machinery, chemicals and chemical products, foodstuffs and oil products and, to a lesser extent, from the production of metal products, electrical machines and appliances.