Serbia public debt and economic trends

Serbia’s public debt has seen significant increases, reaching approximately 41.8 billion euros, which represents 43.9 percent of the GDP. This rise followed a July 2026 issuance of a 500 million euro six-year eurobond on the international market.

Political opposition has raised concerns regarding this debt trajectory, with Member of Parliament Aleksandar Ivanović alleging that debt rose from 15 billion euros to over 42 billion euros during the Serbian Progressive Party’s tenure. Ivanović criticized the government’s reliance on commercial bank loans over international institutions, arguing that commercial loans lack rigorous spending controls. He further alleged that infrastructure spending is being diverted through corrupt methods to party members.

While debt has climbed, economic data shows rising wages and a growing real estate market. Average net salaries in June 2026 rose by 12.3 percent year-on-year to 120,401 dinars. During the first half of 2026, most public sector categories experienced faster growth in net wages and total wage mass compared to the private sector.

Real estate prices in Serbia are also experiencing rapid growth. In the first half of 2026, average apartment prices across the country rose by 15.81 percent year-on-year. In Belgrade, average apartment prices have exceeded 3,219 euros per square meter, with premium areas such as Savski Venac reaching 4,210 euros per square meter.