A girl at a local market in Serbia. The overarching goal of the World Bank's seven-year engagement strategy with Serbia is to support the country in creating a competitive and inclusive economy and, through this, to promote its integration into the EU. Photo by: photos.de.tibo / CC BY-NC-ND
Serbia slipped into another recession in 2014, its third in a span of six years.
Structural constraints such as delayed privatization of state-owned enterprises, nonreformed public enterprises and a poorly performing banking sector prevented the economy from recovering.