Serbian Finance Minister Siniša Mali stated that the proposed 2026 state budget is socially responsible and ensures continued capital investment and infrastructure development. He emphasized that maintaining macroeconomic stability and supporting economic growth remain key priorities.
The proposed 2026 budget foresees:
- Total revenues: 2.414 trillion dinars
- Total expenditures: 2.751 trillion dinars
- Budget deficit: 337 billion dinars (3% of GDP)
- Projected GDP growth: 3%
Mali said that Serbia’s GDP growth for 2024 will be 2–2.5%, instead of the planned 4.2%, citing domestic blockades as the main reason. He noted that the budget provides for:
- 12.2% pension increase from December 2024
- 5.1% rise in public sector salaries from January 2025
- 10.1% increase in the minimum wage
- Higher tax-free income threshold (34,000 dinars)
He added that the average pension is expected to reach €490 in 2025 and €650 by end-2027, while the average salary should exceed €1,000 by the end of this year and reach €1,400 in 2027. Capital investment spending will amount to 6.7% of GDP next year.
The budget proposal also includes a “green budget” segment for environmental and climate-related projects, as well as a citizens’ guide to improve public transparency.
Governor Jorgovanka Tabaković said the 2026 budget is based on a macroeconomic framework that reflects current geopolitical and economic conditions, including rising global protectionism, sanctions affecting NIS, and reduced investor confidence.
She highlighted:
- Projected GDP growth of 3% in 2026 and 5% in 2027
- Inflation of 2.8% in October, expected to remain within the 3% ± 1.5% target range next year
- Stable dinar exchange rate
- Record foreign exchange reserves of €29.4 billion
- Gold reserves of 52.2 tons, making up 20% of FX reserves
Tabaković said fiscal policy will remain on sustainable foundations, with the NBS and government jointly committed to financial stability.
