Naučna konferencija sa međunarodnim učešćem Politika ekonomske stabilnosti, digitalizacija obrazovanja i cirkularna ekonomija u državama Zapadnog Balkana, Knj. 5 (pp. 45-55)
AUTOR(I) / AUTHOR(S): Lidija Madžar 
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DOI: https://doi.org/10.46793/83138-02.045M
SAŽETAK / ABSTRACT:
This paper is devoted to the assessment of the economic uncertainty of Serbia in its recent history. Economic uncertainty is a state of insecurity and unpredictability of future events, accompanied by concern about worsening financial conditions, when businesses, individuals or households fear that they will not be able to cover their basic investment costs or living expenses due to investment uncertainty, low incomes, high inflation, job loss or lack of social protection, all of which make planning and decision-making dificult and strongly affect the mental health of individuals and the stability of society. The paper provides an overview of the most significant indicators of economic uncertainty in the world, as well as some its approximate measures for the case of Serbia for which there are available data. Affected by various external and internal shocks, Serbia is facing worrying economic uncertainty, accompanied by slow and uneven economic growth, weaker external demand and global volatility, reduced exports and declining public and private investments, as well as geopolitical, trade and regional insecurities. The channels of transmission of economic shocks to the country’s economy are reflected in: a) rising energy prices, b) rising living costs and accelerating inflation, c) reduced investments and d) expansive fiscal policy. However, despite everything, the country still maintained its macroeconomic stability, credible fiscal policy and an adequate level of foreign exchange reserves. At the end of the paper, concrete recommendations are given for overcoming the crisis, with special emphasis on strengthening the quality and transparency of weakened institutions.
KLJUČNE REČI / KEYWORDS:
economic uncertainty, growth slowdown, economic shocks, business confidence, institutional weaknesses, transparency
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