fiscal position

Serbia Q1 2026 deficit improves versus plan as spending and subsidies rise

Serbia’s central government budget in the first quarter of 2026 showed a deficit of 97.9bn dinars, after recording revenues of 551.3bn dinars and expenditures of 649.2bn dinars. The deficit outcome was 80.3bn dinars better than planned, according to MAT macroeconomic analysis. At the same time, the deficit was 70.1bn dinars wider than in the same period a year earlier, which is described as more important for assessing policy direction. The analysis indicates that Serbia is not entering fiscal stress, while…