Јефтинија храна

December 26, 2025

TL;DR

Serbia's economy is projected to grow around two percent in 2025, a slowdown from 3.9 percent in 2024.
The slowdown is attributed to internal uncertainty, with a lesser impact from global trends.
Serbia's economic growth is now below the Central and Eastern European (CEE) regional average of approximately 2.3 percent.
Key reasons for the slower growth include declining investments, a poor agricultural season, a downturn in construction, and sanctions on the oil sector.
Inflation fell to 2.8 percent between September and November due to administrative limits on trade margins, primarily driven by falling food prices.
Average inflation for 2025 is expected to be below four percent, but there is a risk of future price increases once administrative measures are lifted.
The labor market shows no significant deterioration, with a 0.5 percent drop in employment in the third quarter concentrated in the informal sector.
Formal employment remained stable, and average real wages grew by seven percent year-on-year in the third quarter, exceeding productivity growth.
Monetary policy maintained the interest rate at 5.75 percent, considered appropriate given uncertainties related to sanctions.
The NBH's decision to maintain interest rates is seen as correct amidst the expressed uncertainties concerning sanctions on NIS and other risks.

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