Serbia's Rafale Jet Purchase Triggers €833 million Budget Deficit

Serbia paid the lion's‑share of the fourth installment for its order of 12 French Rafale fighter jets six months ahead of schedule. The early payment covered about 73% of the €686.25 million portion, leaving a remaining €186.25 million due in January 2027.

The accelerated payment contributed to a budget shortfall of roughly 98 billion dinars (about €833 million) at the end of July, a deficit 4.3 times larger than the same period a year earlier. Finance Minister Siniša Mali had earlier claimed a surplus, but the Treasury showed no excess funds. President Aleksandar Vučić had signed the €2.75 billion deal with France’s Dassault Aviation, and Serbia has already paid about €2 billion in earlier advances.