17.07.2023.
Renowned economist Stojan Stamenković, a member of the Council of the Governor, passed away today in Belgrade aged 89.
He served three consecutive terms as a member of the Council of the Governor since November 2012. He will remain remembered by his astute and timely economic analyses based on invaluable knowledge and experience.
Stojan Stamenković was born in 1934 in Požarevac, Serbia. He graduated from the Belgrade Faculty of Natural Sciences and Mathematics – Department of Mathematics in 1964. He began his career as an analyst in the Economic Department of the former Federal Government.
His specialist fields since 1971 included macroeconomic analysis and macroeconomic projections.
From 1982 to 1986, he served as the Chief Economist in the Cabinet of Prime Minister of the Federal Government. From 1983 to 1984, he was deputy chief of the Yugoslav delegation for negotiations with the IMF. In the 1987–1989 period, he held the post of director of the Foreign Trade Institute.
He returned to the Federal Government in 1989 and was engaged in developing economic reforms (the stabilisation programme). After the process of disintegration of the former SFRY started, he participated in the Hague Conference on Yugoslavia aimed at rearranging the balance of power in the federal state.
After the constitution of the Federal Republic of Yugoslavia (1992), he worked in the Federal Government as the federal adviser for economic developments and politics. After the dissolution (1993) of the Federal Government, he was relieved of his duties and went into early retirement.
Since 1992, he cooperated with the Institute of Economic Sciences in Belgrade. On proposal of the Institute’s director, he launched the magazine “Monthly Analyses and Prognoses” (MAP) within the research project on macroeconomic policies. He was the coordinator, editor and co-author of this magazine until the end of 2003. From January 2004 until the end of 2010, he headed a new research project and the monthly magazine “Macroeconomic Analyses and Trends” (MAT) of the Economic Institute. Since early 2011, he was the coordinator of the project and author of the section “Assessment of Economic Activity” and the chapter “Current Issues in Economic Policy”.
On invitation of the National Bank of Yugoslavia, he took part in developing Yugoslavia’s balance of payments projections for 2001. He was a member of the team negotiating with the IMF (January and March 2001) on a stand-by arrangement. He also took part in negotiations with the IMF (February and March 2002) on a three-year extended arrangement, as well as in all subsequent negotiations on the review of this arrangement until its conclusion in 2006. As an expert, he was also engaged in negotiations and reviews of stand-by arrangements, from 2009 to 2012.
He published a number of analyses, studies, books and papers, the most prominent being: “The Macroeconomic Analysis of the Yugoslav Economy” (S. Stamenković et al; a study, 2000); “Macroeconomic Stabilisation – Alternative Approach” (S. Stamenković et al, 1994); “Economic Drama of Yugoslavia” (T. Popović, S. Stamenković; a study, 1994 and 2000); “A Few Notes on Methods of Studying the Pace of Industrial Production” (S. Stamenković, ‘Statistical Review’, 1/1966); “Factors of Inflation in Yugoslavia – A Quantitative Analysis” (a study; 1973); “Financial Position of the Economy and Banks” (a coordinator; 1985).
He was a regular member of the Scientific Society of Economists. Since 2012, he was a member of the Academy of Economic Sciences.
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