credit borrowing

Credit Demand Declines Amid High Financing Costs in Serbia

Corporate credit demand in Serbia has shown notable signs of softening as businesses reassess their investment strategies due to elevated borrowing costs and uncertainties in external demand. This trend reflects a broader shift within the economy towards more cautious and selective growth, rather than outright contraction. Historically, corporate borrowing in Serbia has been closely tied to cycles of foreign direct investment, export demand, and public infrastructure developments. However, in 2025, these factors appeared less aligned. There was a significant decline…