Resources of Sustainable Economic Growth and Development: The Case of the Republic of Serbia

Ignjatovic, Jelena (2020) Resources of Sustainable Economic Growth and Development: The Case of the Republic of Serbia. REGIONAL AND BUSINESS STUDIES, 12 (1). pp. 19-28. ISSN 2061-2311

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Abstract

The Sustainable Development Strategy implies a targeted long-term process that affects economic, social, environmental and institutional aspects of life. The goal is to meet the social and economic interests of citizens, reduce poverty, reduce unemployment and gender inequalities and reduce negative impacts on natural resources and the environment, resulting in long-term economic growth with economic efficiency, technology and innovation. Accordingly, in 2015, the United Nations adopted Resolution A/RES/70/1 - Transforming our world: the 2030 Agenda for Sustainable Development, based on three dimensions of sustainable development: economic growth, social inclusion and environmental protection. At the end of the 20th century, parallel with the theory of development, which turned into the concept of sustainable development, there was globalization that integrated the entire world regions in order to gain as strong economic and financial positions as possible on the world stage. Today, Serbia is not in a position to choose whether to engage in modern globalization processes, but it must continue the initiated transitional reforms and accession to the European Union, regardless of the economic, political or environmental consequences. By implementing national policies, Serbia should aim at national and economic sovereignty, which will further influence sustainable development. Only by changing the current economic policy, by creating a national strategy based on the exploitation of domestic economic and industrial potentials, by reducing unemployment, social responsibility and individual freedom, economic growth and sustainable development can be achieved. This work, besides the introduction, consists of materials based on the presentation of the sustainable development strategy of the Republic of Serbia, and also presents the results and discussion that draft the current situation with possible solutions to achieve sustainable development in the future. Finally, final ratifications are provided.

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