Flag description: three equal horizontal bands of blue (top), white, and red
Economy Yugoslavia
Economy - overview: MILOSEVIC-era mismanagement of the economy, an extended period of economic sanctions, and the damage to Yugoslavia's infrastructure and industry during the war in Kosovo has left the economy only half the size it was in 1990. Since the ousting of former Federal Yugoslav President MILOSEVIC in October 2000, the Democratic Opposition of Serbia (DOS) coalition government has implemented stabilization measures and embarked on an aggressive market reform program. After renewing its membership in the IMF in December 2000, Yugoslavia continued to reintegrate into the international community by rejoining the World Bank (IBRD) and the European Bank for Reconstruction and Development (EBRD). A World Bank-European Commission sponsored Donors' Conference held in June 2001 raised $1.3 billion for economic restructuring. An agreement rescheduling the country's $4.5 billion Paris Club government debts was concluded in November 2001; it will write off 66% of the debt and provide a basis for Belgrade to seek similar debt relief on its $2.8 billion London Club commercial debt. The smaller republic of Montenegro severed its economy from federal control and from Serbia during the MILOSEVIC era and continues to maintain it's own central bank, uses the euro instead of the Yugoslav dinar as official currency, collects customs tariffs, and manages its own budget. Kosovo, while technically still part of the Federal Republic of Yugoslavia according to United Nations Security Council Resolution 1244, is moving toward local autonomy under United Nations Interim Administration Mission in Kosovo (UNMIK) and is dependent on the international community for financial and technical assistance. The euro and the Yugoslav dinar are official currencies, and UNMIK collects taxes and manages the budget.
GDP: purchasing power parity - $24 billion (2001 est.)
GDP - real growth rate: 5% (2001 est.)
GDP - per capita: purchasing power parity - $2,250 (2001 est.)
GDP - composition by sector: agriculture: 26% industry: 36% services: 38% (2001 est.)
Population below poverty line: 30%
Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices): 40% (2001 est.)