Economic crisis and its consequences on the living standard and development of the agriculture in Serbia

Jelocnik Marko and Nastic Lana

MPRA Paper from University Library of Munich, Germany

Abstract: The economic crisis had transferred to Serbia at the end of 2008, causing the economic growth slowdown and macroeconomic stability endangerment. Agriculture, the strategic branch of national economy was affected as well, and despite favourable climatic, natural, human and technical-technological potentials, it had influenced reduction of agricultural development far below the real possibilities. Prior to the crisis potentials for agricultural development in Serbia were unused. Comprehensive and more intensive institutional support lacked, along with growing necessity for the concept based on profitability, market orientation and competitiveness of national agriculture. All segments of agriculture would have to be harmonized with the policies of agrarian and rural development of EU, mainly in terms of agri-food safety, and economic, social and ecological efficiency of agriculture. Due to decrease in living standard in most of the households in Serbia various survival strategies models have been created, in which the great part of personal consumption is being used for purchase of agri-food products. Changes in local population’s daily food consumption are reflected not as much in the reduction of quantities used as in the quality of used nutrients. That leads to a conclusion that to food production in Serbia should be paid greater attention, especially during the period of economic crisis.

Keywords: Republic of Serbia; agriculture; food security; economic crisis; employment (search for similar items in EconPapers)
JEL-codes: E21 J43 Q11 (search for similar items in EconPapers)
Date: 2011-10-17, Revised 2011-10-17
New Economics Papers: this item is included in nep-agr and nep-tra
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