Digitalni repozitorijum
Univerziteta u Beogradu
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MACROECONOMIC CONDITIONS – WHAT CAN WE EXPECT?
Jovanović Gavrilović, Biljana
Gligorić Matić, Mirjana
Jovanović Gavrilović, Velibor
The global economy is undergoing deep structural changes. The focus is on the “great transition” which signifies the movement towards a sustainable economy, the reconfiguration of global supply chains in the context of the green transition, and rising geopolitical tensions, as well as the race for critically important raw materials stemming from the demands of digitalization and the greening of economic activities.59 In the new global circumstances, the world economy has proven to be more resilient than expected.60 The worst-case recession scenario for 2023 has been avoided, but a long period of low economic growth is anticipated. The fragile resilience of the world economy conceals short-term risks and structural weaknesses. Price pressures remain strong in many countries, and further escalation of conflicts in the Middle East carries the risk of disruptions in energy markets with adverse effects on global inflation. The expected prolongation of a period of higher borrowing costs and stricter lending conditions does not favor the world economy burdened by debt, which requires greater investments to stimulate growth and accelerate progress in implementing the Sustainable Development Goals. Industrial and innovation policies play a crucial role in this process as levers for achieving structural changes and as a catalyst for the green transition. The imperative of implementing the 2030 Agenda for Sustainable Development calls for strong global cooperation, which is more necessary today than ever before. At the Future Summit, planned for September 2024, the UN will attempt to find “multilateral solutions for a better future”.
This research is supported by the Ministry of Science, Technological Development and Innovation of the Republic of Serbia by the Decision on the transfer of funds to finance the scientific research work of teaching staff at faculties in 2024, No. 451-03-65/2024-03/200097 of 5 February 2024.
engleski
2024
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Keywords: economic growth, GDP