Europe > Serbia and Montenegro > Economy

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Agriculture > products cereals, fruits, vegetables, tobacco, olives; cattle, sheep, goats
Big Mac Index	$2.08		[44th of 65]
Budget > Revenues	$9,600,000,000.00		[73rd of 166]
Current account balance	-$6,889,000,000.00		[161st of 181]
Debt > External	$26,240,000,000.00		[62nd of 136]
Distribution of family income > Gini index	30		[33rd of 43]
Economy > Overview MILOSEVIC-era mismanagement of the economy, an extended period of economic sanctions, and the damage to Yugoslavia's infrastructure and industry during the NATO airstrikes in 1999 left the economy only half the size it was in 1990. After the ousting of former Federal Yugoslav President MILOSEVIC in September 2000, the Democratic Opposition of Serbia (DOS) coalition government implemented stabilization measures and embarked on a market reform program. After renewing its membership in the IMF in December 2000, a down-sized Yugoslavia continued to reintegrate into the international community by rejoining the World Bank (IBRD) and the European Bank for Reconstruction and Development (EBRD). A World Bank-European Commission sponsored Donors' Conference held in June 2001 raised $1.3 billion for economic restructuring. In November 2001, the Paris Club agreed to reschedule the country's $4.5 billion public debt and wrote off 66% of the debt. In July 2004, the London Club of private creditors forgave $1.7 billion of debt just over half the total owed. Belgrade has made only minimal progress in restructuring and privatizing its holdings in major sectors of the economy, including energy and telecommunications. It has made halting progress towards EU membership and is currently pursuing a Stabilization and Association Agreement with Brussels. Serbia is also pursuing membership in the World Trade Organization. Unemployment remains an ongoing political and economic problem.
Exchange rates new Yugoslav dinars per US dollar - 64.1915 (official rate: 65) (2002)
Exports	$8,824,000,000.00		[83rd of 189]
GDP	$27,816,790,000.00		[70th of 203]
GDP (purchasing power parity)	$77,280,000,000.00		[72nd of 187]
GDP > Real growth rate	7.3%		[42nd of 198]
GDP growth > annual %	4.68 annual %		[88th of 187]
GINI index	30.02		[33rd of 40]
Gross fixed capital formation > constant 2000 US$	2,385,285,000 constant 2000 US$		[74th of 145]
Income category	Lower middle income
Inflation rate (consumer prices)	10.1%		[31st of 192]
Population below poverty line	6.5%		[19th of 46]
Public debt	37 % of GDP		[60th of 121]
Tourist arrivals by region of origin > Europe	683,031		[54th of 195]

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