Process of Globalization in Serbia and Montenegro

During the 2003,socio-monetary developments in Republic of Serbia and
Montenegro have been characterised by way of lively role of Goverment to
put into effect reforms,important to step up transition method.

According to the record of the European Bank for Reconstruction and Development (EBRD),Serbia and Montenegro recorded extra development in implementation of reforms than the other 27 East European nations.In its document on transition,EBRD graded Serbia and Montenegro three+ (scale 1-four)for its foreign trade policy,for the process of privatization of small organizations and for rate liberalization.

The present day country of world economy,particularly EU is that a more potent growth charge in international economic system could not be anticipated till the end 2004.

According to the Republic improvement Bureau,monetary traits in Serbia inside the first four months of 2003,are characterised by way of a slowdown in monetary interest,but together with stabilization of fee actual boom in salaries and growth in overseas alternate.Exports of products in period January-April 2003 multiplied by 28,6% when it comes to the identical length of 2002.The coverage of imports with exports in April 2003 is 41,9%.

Prices in May 2003 accelerated with the aid of zero,five% in relation directly to April and prices of dwelling by means of 0,4%.
The overall number of hired folks at the quit of March 2003 amounted to one,782.841 (supply:Republican Labour Market Bureau).Using the same source we are able to observe that during Serbia were 947,426 unemployed humans.Mentioned range changed into expanded through 17,7% in 2003 with regards to 2002.

In 2003,336 establishments were privatized at tenders and auctions,which pulled in EUR 159,5 million( source:republic Development Bureau).According the identical supply,the method of restructuring turned into began in 73 massive financial systems.Also,the Serbian government adopted the Strategy for improvement of Entrepreneurship in Serbia from 2003-2008.

The evaluation of financial development in Serbia shows that the most developed town in serbia is Apatin with the extent of improvement eighty five% above common in Serbia and on the alternative facet,the most undeveloped metropolis is Tutin with the development 76% under the average of Serbia.

Finally,we can conclude that Serbia and Montenegro will try to be included into the worldwide economic system as quickly as viable.In spite of our true desires,it seems that our expectancies are very unrealistic to be achieved fastly. Namely,after a long period of stagnation,wars,low financial rate of boom,high fee of inflation (in 1993.It was the very best rate within the World),high fee of unemployment and low country wide profits per capita,path of integration could be long and tough system.Knowing that,our government will try and make this manner shorther with structural adjustments in national economic system and making massive steps in transition closer to the shape and performance of superior economies.As fast as our wellknown of living upward thrust it will become feasible to make development.The first effects were yet obtrusive.