government

Serbia Builds Larger Financial Buffers Ahead of Potential External Shocks

Serbia entered the second half of 2026 with €30.5 billion in foreign-exchange reserves, general-government debt at 44.1% of projected GDP and contained sovereign risk premia, strengthening its financial position against potential external volatility. The National Bank of Serbia (NBS) had become a net foreign-currency buyer in the months leading up to the end of July. Between April and July, the central bank purchased €900 million net on the foreign-exchange market, reducing its cumulative net sales since the beginning of the…