Sustainable development of Serbia at the beginning of the 21st century

In this paper we analyze the development process in Serbia in the first decade of the 21st century. At the beginning we clearly defined the difference between simple growth of national economy and its development. It is obvious that the growth of revenue in the period 2001-2008 could not be marked as development compared by all of the major macroeconomic indicators. Also there is no doubt that similar (or same) growth pattern as in the analyzed period could not be a development model in the future. Because of that, we proposed at the end of the paper new elements of Serbian development - based on KBE (knowledge based economy) in the industry sector energy and all other types of efficiency measures and enhancing of personnel capabilities and training of employees as comparative advantages of Serbian Economy.