MACROECONOMIC PERFORMANCE OF WB COUNTRIES - EMPIRICAL INVESTIGATION

The subject of this paper is a comparative analysis of key macroeconomic indicators (Real GDP, Inflation, Unemployment rate, and Government debt) of the Western Balkans in the period 2018 – 2021. The aim is to assess their relationship and position and accordingly draw adequate conclusions and recommendations for policymakers. The research is based on a descriptive analysis of secondary data from The Global Economy database. A comparative analysis of the selected macroeconomic indicators indicates that the COVID-19 pandemic and the global slowdown have had the least severe impact on Serbia compared to other Western Balkan countries. This resulted from the Serbian economy’s achieved macroeconomic and financial stability, previous growth dynamics, built fiscal position, timely implementation of the comprehensive package of measures, and its economic structure. In the forthcoming period, it can be expected that the Western Balkan region, with the implemented structural reforms, will ensure macroeconomic stability and the creation of a favorable foreign direct investment environment, which will undoubtedly impact their further economic growth and development