Economy
Montenegro’s credit-led momentum meets a worsening external backdrop
At the start of 2026, Montenegro’s macro picture shows accelerating domestic demand supported by credit expansion, lower borrowing costs and improving labour conditions. But export weakness—especially…
Montenegro heads into 2026 with steadier inflation and a growth engine that still needs diversification
As Montenegro enters 2026, GDP growth is holding steady while inflation continues to cool, easing pressure on households and businesses. The outlook looks more stable than…
Montenegro’s growth engine tightens its grip: real estate, bank credit and foreign capital move as one
Early 2026 data show foreign investment and bank lending are increasingly feeding Montenegro’s property cycle, with more than half of FDI flowing into real estate. The…
Montenegro’s 2026 growth is powered by households—but the financing and trade backdrop leave it exposed
At the start of 2026, Montenegro’s expansion continues to rely on household demand, with consumption up in 2025, employment rising and wages stabilising. Yet weakening exports…
Euro adoption leaves Montenegro with fewer levers as growth depends on outside forces
Montenegro’s unilateral use of the euro has helped keep inflation and borrowing costs contained, but new early-2026 indicators also underline how little room the country has…
Foreign chambers and the shift to capital concentration in Serbia’s next investment phase
Serbia’s investment ecosystem is moving from broad, incentive-driven expansion toward a model where capital concentration and chamber-linked networks increasingly determine which projects advance. The next cycle—spanning…
Montenegro resets Airports of Montenegro valuation to about €265m, reshaping concession economics
Montenegro’s state property administration has set a new valuation of roughly €265 million for Airports of Montenegro, nearly doubling earlier estimates and resetting the financial baseline…
Foreign investor chambers in Serbia evolve into gatekeepers of capital and regulation
In Serbia, foreign investor chambers and business associations have moved beyond advocacy to shape where money goes and how quickly rules change, including through the Foreign…
How CBAM and ESG rules are spawning a compliance-focused services boom in Serbia
As the EU’s CBAM and wider ESG requirements tighten, Serbian firms are building a specialized market for compliance, verification and reporting that helps exporters keep access…
Belgrade’s property boom is pulling Serbia toward institutional real estate
Serbia’s real estate market is shifting from retail-led activity to more institutional investment and structured financing, with the change most evident in Belgrade and spreading to…