The Impact of the Covid-19 Crisis on the Serbian Economy : Consequences and Recovery

Lazarević-Moravčević, Marija and Kamenković, Sandra (2021) The Impact of the Covid-19 Crisis on the Serbian Economy : Consequences and Recovery. Economic Analysis: journal of emerging economics, 54 (2). pp. 41-54. ISSN 1821-2573

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Abstract

The subject of this paper is the analysis of the consequences of the corona crisis on the Serbian economy. The focus is on the analysis of the crisis effect, taking into account the sectoral structure of the Serbian economy and the distribution of business entities by size. The assumptions are that the crisis did not affect all business sectors equally, as well as that the size of the company is a factor that significantly determines the organization's ability to respond to the crisis. The paper also analyzes the effectiveness of measures taken by economic policy makers in order to mitigate the consequences of a pandemic. Desk-research method was used in the paper, primarily analyzing papers and publications from scientific journal and other professional literature, as well as official data, databases and reports of relevant institutions. In conclusion, the authors state that it is extremely difficult to predict the pace at which the Serbian economy will recover from the crisis, especially under the assumption that the pandemic may continue. Recovery from the crisis is determined by a number of factors: measures that the state will implement in the upcoming period, the company's ability to adapt to new business conditions, the pace of vaccination, the further course of the pandemic, events in the environment.

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