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The Government of the Republic of Serbia

In the service of citizens

Serbia’s further development alongside fiscal, monetary stability

Belgrade, 15 November 2024

Prime Minister Miloš Vučević said at the presentation of the Foreign Investors Council’s (FIC) White Book 2024 today that the European Commission has revised its GDP growth forecast for Serbia in 2024 to 3.9%.

Vučević stated that GDP is projected to expand 4.2% in 2025 and 4.3% in 2026, adding that the state will seek to maintain that pace.

He noted that Serbia’s public debt is projected to amount to 48.5% of GDP in 2024, 48.2% in 2025 and 48% in 2026, below the Maastricht level, but also below 50% of GDP.

According to him, this creates room for further development, without jeopardising the overall backdrop of the country’s economy, i.e., the fiscal and monetary stability.

The Prime Minister recalled that the unemployment rate is at 8.7% this year, with youth unemployment at 22%, noting that inflation is projected to reach 3.7% in 2025 and less than 3.5% in 2026.

Expressing his satisfaction with the level of foreign direct investments in Serbia, he said that approximately 70% of American Chamber of Commerce (AmCham) member companies see 2025 as a year of further progress in Serbia and a chance for the development of their business.

I believe that in the coming period, if we have political stability and peace in the world and the region, it will be possible to create an environment for better results, he said, pointing out that the work of the working group of the FIC and the Government of Serbia should be renewed.

The Prime Minister noted that it is good that Serbia has made significant progress in the energy sector, but that there is also much work ahead.

As he explained, all countries are focused on the energy sector, which is directly related to the economy, environmental protection, the European Green Deal and the Green Agenda for the countries of the Western Balkans.

He emphasised that the EU’s Growth Plan for the Western Balkans is very important and that Serbia did not interpret it as a substitute for European Union membership, just as it did not interpret the Open Balkan initiative as a parallel process, but as a process of integration in the Western Balkans and preparation for accession to the EU.

We have heard many encouraging messages from Brussels these days, above all regarding further European integration and EU enlargement. It is up to us to work together, and Serbia will particularly insist on clearly measuring the lap time for each candidate country, Vučević concluded.

Photos by: Slobodan Miljević