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President of Serbia addresses energy consumption and financial stability amid heatwave

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President Aleksandar Vučić highlighted today that due to soaring temperatures, the country is consuming more electricity than during winter months. “Financially, we are in a good position. Electricity prices are expected to peak today and tomorrow due to unprecedented demand, surpassing winter consumption records—an unexpected occurrence not just for us, but for the entire region and Europe,” Vučić stated in his public address.

Vučić expressed optimism that Serbia can mitigate these challenges by “activating block 3 and completing the overhaul of Bajina Bašta” without burdening citizens.

Serbia has been enduring intense heat, with tropical days and nights and a continued lack of rainfall. Temperatures are forecasted to reach up to 40 degrees Celsius in the coming days. Regarding economic stability, Vučić emphasized that Serbia is “liquid and extremely solvent.”

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“We are actively replenishing our commodity reserves to ensure our warehouses are well-stocked. Soon, we will launch a significant initiative to procure additional medicines, especially those crucial for first aid and emergency care, to prevent shortages,” he added.

Vučić also announced that Serbia has acquired five tons of gold on the market.

“Our gold reserves are now at their highest level,” he confirmed.

Addressing savings, Vučić underscored the robust trust of citizens in the financial system.

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“In 2012, dinar savings totaled 17.9 billion dinars; today, they have increased ninefold. Foreign currency savings amounted to 8.3 billion euros back then; today, they stand at 15 billion euros,” he elaborated.

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