Economy
Serbia’s growth shift: investment and external capital replace consumption as the key engine
Serbia’s 2026 outlook points to a structural pivot toward a capital-intensive model, with fixed investment and public infrastructure spending increasingly driving growth. The change lifts medium-term…
Montenegro’s stability hinges on external capital as investor mix and geopolitics reshape economic risk
Montenegro’s economy is structurally dependent on foreign inflows—especially FDI tied to real estate and tourism—meaning geopolitical shifts and investor sentiment can quickly alter liquidity, growth and…
Montenegro’s SME engine powers jobs—but its tourism dependence and financing gaps leave it exposed
Montenegro’s small and medium-sized enterprises underpin employment and local economic activity, but their performance is tightly linked to tourism cycles. Limited diversification, uneven access to capital,…
Montenegro’s services-led economy is booming—but its seasonality and external dependence leave it exposed
Services account for more than 70% of Montenegro’s GDP, with tourism driving the bulk of foreign exchange. But the same concentration makes growth cyclical, employment volatile,…
Montenegro’s widening trade gap underscores reliance on tourism, real estate and external financing
Montenegro’s goods trade deficit is deepening as imports outpace a still-narrow export base, with service inflows—led by tourism—only partially offsetting the imbalance. The euroized model limits…
Montenegro’s 2026 infrastructure push tests execution capacity amid tight fiscal space
Montenegro’s infrastructure plans for 2026 reflect a trade-off between strategic ambition and limited fiscal room, with delivery speed increasingly determined by financing structures and execution capacity.…
Montenegro’s power constraints could test a tourism-led growth model as demand peaks outpace capacity
Montenegro’s electricity system is increasingly struggling to match seasonal demand driven by tourism and real estate, forcing greater reliance on imports when hydropower output is most…
Montenegro’s tourism-and-capital model delivers growth, but leaves the economy exposed to external shocks
Montenegro’s 2026 outlook shows an economy increasingly powered by foreign investment and tourism rather than domestic production. The upside—high-margin inflows and rapid coastal development—comes with structural…
IMF trims Serbia’s growth forecast as inflation stays above target, underscoring external and structural pressures
The IMF expects Serbia’s economy to grow 2.8% in 2026, down from earlier expectations, while inflation remains elevated around 5.2%—a combination that reflects both weaker European…
Serbia gaming industry shows resilience on revenue, but output and hiring cool—signalling consolidation
Serbia’s gaming sector generated about €222 million in 2025, up from roughly €214 million in 2024, but new game releases have reportedly halved and employment has…