business market

Serbia’s 2026 outlook hinges on rates, inflation and SEPA rollout

The National Bank of Serbia kept its key policy rate unchanged in its June decision at 5.75%, with the deposit facility at 4.50% and the lending facility at 7.00%. The central bank reported real year-on-year GDP growth of 3.2% in Q1 2026, above the flash estimate. It also said April indicators pointed to positive trends in industry, retail trade and tourism. The NBS’s May projection remains for roughly 3% GDP growth in 2026. In its assessment of inflation dynamics, the…