# Serbia economic growth and reserve increases

> Live situation record from CLSTR: https://clstr.news/situations/serbia-economic-growth-and-reserve-increases
> Updated: 2026-09-10T09:16:21.000Z. Sources: 13. Developments: 2.

Serbia has reached record levels in its national financial reserves and economic indicators. By the end of August 2026, the National Bank of Serbia reported gross foreign exchange reserves of 30.80 billion euros and gold reserves of 54.99 tons, sufficient to cover seven months of imports.

Building on this stability, Deputy Prime Minister and Finance Minister Siniša Mali previously noted that Serbia is the only country in the Western Balkans with an investment credit rating, citing a 3.8 percent GDP growth rate in the second quarter of 2026.

In September 2026, President Aleksandar Vučić announced measures to improve living standards, including a 7.5 percent increase in pensions starting in December and an 8 percent increase in public sector wages. Vučić stated that the average salary is expected to reach 1,200 euros by December, and that the minimum net wage will rise to 600 euros (approximately 71,000 dinars) effective January 1, 2027, to protect vulnerable workers in less developed regions.

Government officials highlighted a GDP growth rate of 3.5 to 3.8 percent in the first half of the year, describing the performance as “leading in Europe.” Despite global economic uncertainties stemming from conflicts in Ukraine and the Middle East, the government aims to maintain growth and attract foreign direct investment, which reached 5.2 billion euros in 2024.

## Claims

- Gross foreign exchange reserves in Serbia reached a record 30.80 billion euros at the end of August 2026. (corroborated by 2 sources)
- Net foreign exchange reserves in Serbia reached a record 26.32 billion euros at the end of August 2026. (corroborated by 2 sources)
- The reserves cover 163.9 percent of the M1 money supply. (corroborated by 2 sources)
- The reserves provide enough coverage for seven months of imports of goods and services. (corroborated by 2 sources)
- Gold reserves reached a record 54.99 tons, valued at 6.95 billion euros. (corroborated by 2 sources)
- The NBS conducted domestic market interventions involving the purchase of 135 million euros in foreign currency. (corroborated by 2 sources)
- State foreign currency obligations amounted to 710.4 million euros in outflows. (corroborated by 2 sources)
- Gold prices in US dollars increased by 13.3 percent during the period. (single source)

## Timeline

### 2026-09-10: Serbia announces wage and pension increases amid economic growth

Serbian President Aleksandar Vučić announced pension and wage increases, alongside a plan to raise the minimum net wage to 600 euros by 2027, citing strong national economic growth.

10 sources. https://clstr.news/cluster/serbia-holds-unique-investment-credit-rating-in-western-balkans-says-mali

### 2026-09-09: Serbia's foreign exchange reserves reach record 30.8 billion euros

Serbia's National Bank reported record gross foreign exchange reserves of 30.80 billion euros in August 2026, while North Macedonia's reserves rose to over 5.1 billion euros.

3 sources. https://clstr.news/cluster/serbias-foreign-exchange-reserves-reach-record-308-billion-euros

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Cite as: Serbia economic growth and reserve increases. CLSTR, https://clstr.news/situations/serbia-economic-growth-and-reserve-increases