The present chapter focuses on fertility and mortality problems as the two big demographic challenges facing Serbia. The trend of the average number of live births to women who were past the reproductive age in 2011, considered by age cohorts, indicates an early below-replacement fertility and a long period in which the number of live births per woman was stable at the value of 1.8. Although younger cohorts have yet to age beyond their reproductive years, markedly lower average number of live births by women aged between 36 and 40 compared to women aged 41 and over in 2011 will probably deepen due to completed fertility declining below the 1.8 mark. At the same time, Serbia is struggling with high premature mortality. Premature deaths of mi...