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The Government of the Republic of Serbia

In the service of citizens

Serbia demonstrated flexibility, continued growth despite crises

Kopaonik, 3 March 2025

First Deputy Prime Minister and Minister of Finance Siniša Mali stated today that the most significant development since last year’s Kopaonik Business Forum is that Serbia is now a country with an investment-grade credit rating, which brings numerous benefits to citizens and the economy.

At the 32nd Kopaonik Business Forum, Mali emphasised that Serbia has joined the ranks of countries that are safe for investment and have stable public finances, noting that the country’s investment-grade credit rating is based on growth and stability.

The First Deputy Prime Minister discussed global economic challenges that were in focus at last year’s meeting, particularly highlighting inflation, which Serbia has managed to address.

He added that significant global changes have ensued, shaping conditions for countries’ economic actions.

Mali noted that navigating these challenges is not a simple task, which is especially true for small countries reliant on global markets, but that Serbia’s ability in this respect is demonstrated by the country’s macroeconomic parameters.

The First Deputy Prime Minister supported this claim with data showing that Serbia’s GDP grew 3.9% in 2024, emphasising that the economy of the 27 EU member states simultaneously expanded 0.9% on average, and noting that Serbia’s GDP reached €82 billion for the first time in history.

In addition to strong growth, Mali underscored the stability of Serbia’s public finances, with public debt amounting to 44.2% of GDP, significantly lower than the eurozone average of 89% of GDP.

Mali added that Serbia has also recorded historically low unemployment and record-high employment, with over half a million new jobs created in the past decade.

The First Deputy Prime Minister also referred to the record inflows of foreign direct investment, stating that last year €5.2 billion flowed into Serbia on this basis.

Furthermore, Mali emphasised that citizens’ living standards is an economic policy priority, with efforts accordingly being made, year after year, to ensure that salaries, pensions and the minimum wage grow above the inflation rate, in real terms.

This is one way to contribute to economic expansion – through the growth of investments, exports and living standards – he said, noting that the sum of each macroeconomic indicator has enabled Serbia to achieve an investment-grade credit rating for the first time.

We will not abandon our economic policies, our infrastructure investments or the reforms we are implementing in cooperation with the International Monetary Fund (IMF), he said, noting that this course has proven effective, as Serbia has demonstrated remarkable flexibility despite crises and continued to grow.

PHOTOS: Strahinja Aćimović/Tanjug