contract annexes

Infrastructure Cost Escalations in Serbia Raise Concerns Over Fiscal Sustainability

Recent trends in Serbia's public infrastructure projects have drawn scrutiny from analysts and fiscal policy experts, as contract amendments—commonly referred to as annexes—are leading to substantial increases in project costs. In some instances, these amendments have resulted in total project expenses tripling from their original contract values. This phenomenon is evident across various sectors of Serbia’s infrastructure development, including road construction, railway upgrades, and public building projects. The rising costs are attributed to several factors, such as increased input prices,…