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Policy & State

Serbia beats seven-month budget target but July spending surge tests fiscal headroom

Serbia recorded a smaller-than-planned budget deficit in the first seven months of 2026, but a sharp rise in July expenditure shows how quickly that...

Serbia’s debt climbs €2.5 billion as growth keeps ratio below 44%

Serbia’s public debt rose by about €2.5 billion in the first seven months of 2026, but its share of economic output edged lower, highlighting the growing...

Serbia passes broad 2027 tax and digital compliance package

Serbia has adopted a wide-ranging package of tax and business regulation changes that will reshape corporate compliance from 2027, expanding digital reporting, changing VAT...

Serbia’s 2025 borrowing shift: €5.2bn in new loans puts banks, defence and infrastructure at centre stage

Serbia contracted roughly €5.2 billion of new direct state loans in 2025, highlighting both the scale of the government’s investment programme and a gradual change...

Serbia moves to extend Belgrade Waterfront expropriation until project completion as development area reaches 329 hectares

Serbia is preparing to remove one of the few remaining fixed time limits surrounding the Belgrade Waterfront redevelopment, proposing that the project’s special expropriation regime remain...

Serbia moves to put a price on state guarantees as EU rules raise the cost of public-company borrowing

Serbia is preparing to change one of the less visible but economically important mechanisms through which the state supports public companies: sovereign guarantees. Amendments to...

Serbia turns SEF into a pre-filled VAT platform as digital tax control tightens from 2027

Serbia is preparing one of the most important changes to its corporate tax-compliance architecture since the introduction of mandatory electronic invoicing, moving the SEF electronic-invoice...

Serbia moves to fast-track factory solar as industry looks behind the meter

Serbia is preparing to simplify one of the most commercially relevant segments of its renewable-energy market: small captive solar plants built directly for industrial...

Serbia’s 2027 tax overhaul moves to Parliament as companies face major digital-compliance reset

Serbia is approaching one of its most consequential corporate tax and compliance changes in several years, with Parliament preparing to consider a broad package...

Serbia builds a €30.5 billion FX reserve buffer

Serbia’s foreign-exchange reserves have climbed to a record level of around €30.5 billion, providing the country with one of the strongest external liquidity buffers in...

Serbia turns a revenue windfall into a larger 2026 spending programme

Serbia’s revised 2026 budget says as much about the government’s economic strategy as it does about the strength of public finances. Revenues are running...

Serbia’s 2026 budget rebalance raises revenue forecast but shifts fiscal test to spending control

Serbia has revised its 2026 budget after stronger-than-expected revenues and economic activity created additional fiscal room for household support and capital investment, but the structure of...

Serbia’s EXPO 2027 model points to €3.82bn tax return, with most gains arriving after the event

A new economic impact assessment of EXPO 2027 Belgrade estimates that Serbia could ultimately collect €3.82bn in tax revenues from approximately €2bn of direct public investment, implying 1.91 dinars of...

Serbia prepares stricter capital-project regime as EXPO-era investment peaks

A new decree would impose stronger feasibility tests, centralise project oversight and give the Ministry of Finance a larger gatekeeping role as Serbia manages...
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