parliament

Budget 2026: Between fiscal discipline and economic uncertainty

Serbia’s parliament adopted the 2026 state budget with a headline message designed to signal stability: a planned deficit of around three percent of GDP, aligned with medium-term fiscal frameworks and presented as evidence of disciplined public finance. Beneath the surface, however, the budget reflects deeper political and economic tensions shaped by rising social expenditures, infrastructure commitments, energy-sector strains and the persistent external vulnerabilities that characterize the Serbian economy. The government framed the budget as a balance between supporting growth and…