The economic crisis or recession is defined as a significant decline in economic activity spread among the economy, which lasts several months, and is usually visible in the decline in production, employment, real income and other indicators. A recession begins when an economy peaks in activity and ends when it hits bottom. Officially, the beginning of the recession is the moment when the economy experiences a decline in GDP in two consecutive quarters. Recessions occur cyclically so they can be tracked and predicted. Business cycle theory says that the economy can be in two phases, the expansion phase and the slowdown phase. Crises can be predicted using the business cycle method and the inverse interest rate method. The slowdown in the economy is most often due to a different set of interrelated circumstances that have a negative effect on the economy. In order to mitigate and eliminate the consequences of the crisis, fiscal and monetary policy measures are used. It is important that measures are adequate and timely so that the crisis does not deepen. The aim of this paper is to analyze past crises and their impact on the economy to determine whether there is a specific set of circumstances that precede the crisis.