Economy
Serbia’s growth splits: capital gathers around big platforms as SMEs face a widening financing and cost gap
Serbia’s expansion is increasingly driven by larger, more capitalised firms, while small and medium-sized enterprises struggle with tighter credit conditions and rising input costs. The result…
Serbia doubles down on public spending to steer private investment—while execution risk becomes the test
With public debt at about 43% of GDP and budget deficits near 3%, Serbia is using large-scale public investment to set the framework for where private…
Serbia’s shift toward investment-led growth raises the bar for execution and financing
Serbia’s economy is expanding, but the growth engine is changing: investment is replacing consumption as the primary driver, widening an import-heavy trade deficit that now depends…
Serbia’s telecom and ICT growth turns into a capital test as saturation bites
Serbia’s electronic communications sector is expanding its revenue base, with strong services exports and double-digit information-and-communications growth. But the market is moving from subscriber-led expansion to…
Serbia trade sector shows demand momentum, but financing and regulation are reshaping where investors put capital
Serbia’s trade sector continues to expand in nominal terms as domestic demand holds up, yet the PKS Q4 2025 bulletin points to margin compression and tighter…
Higher rates tighten Serbia’s capital allocation as lending concentrates in heavy-investment sectors
Serbia’s banking system remains stable, but higher interest rates—linked to European monetary tightening—are making financing more expensive and selective. Credit growth is still running at about…
Serbia leans on public capital spending to power growth while keeping debt and deficits contained
Serbia is expanding an investment-led fiscal approach, using public capital outlays to fund infrastructure, energy upgrades and industrial development without breaking its fiscal stability targets. The…
Serbia’s widening external deficit reflects an investment-led growth shift, not just macro imbalance
Serbia’s current account deficit is widening as a capital-intensive investment cycle boosts imports of equipment and intermediate goods faster than exports materialize. The outcome hinges on…
Serbia’s investment-led pivot reshapes risk, returns and growth concentration
Serbia’s latest MAT 374 signals a shift away from consumption-led expansion toward an investment-driven model, with real GDP growth moderating to about 2.1–2.7% in 2025. The…
Montenegro’s January 2026 trade figures underline dependence on imports and external capital
January 2026 data reinforces that Montenegro’s growth model is import-led, with exports unable to keep pace—exports cover only a fraction of imports. The gap is bridged…