industrial decline

Industrial Production in Serbia Experiences Decline Due to Refinery Shutdown

Industrial production in Serbia saw a significant downturn at the start of the year, largely attributed to the temporary shutdown of the Pančevo oil refinery. The National Bank of Serbia (NBS) reported that this decline was primarily driven by interruptions in refining activities, which had a direct impact on the manufacturing sector and overall industrial output. The Pančevo refinery, operated by the national oil company, is integral to Serbia’s industrial framework. Consequently, any disruptions in its operations have immediate repercussions…