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Chronically poor competitiveness of Serbian market during the global economic crisis has become a basic weakness of Serbian economy. Therefore, the negative effects of the crisis in Serbia felt widely, exposing the deep structural problems of Serbian economy, but also imposed new challenges to be out passed. Accordingly, the authors of this paper aims to diagnose and analyze the basic economic indicators, business conditions and the competitiveness of the Serbian economy, and, on the strength of the study results, provide recommendations on how to speed up the recovery of the economy. Namely, the base for competitiveness stature relies on sustainable growth and development, that should be based on the implementation of the reindustrialization strategy while intensifying the process of business and market restructuring, bringing the new agricultural policy, including the implementation of modern irrigation systems, implementation of the adopted system framework for solving the problem of illiquidity and adjusting the level of public spending with real economy potentials.
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