Serbia Policy Notes 2026 - Policy guidance and development priorities - World Bank

Jul 19, 2026

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Serbia Policy Notes 2026 presents World Bank Group analysis to guide development priorities across macroeconomic management, the financial sector, governance, business environment and innovation, infrastructure participation, and energy and mining. It also covers environment and green transition, poverty and inclusion, health systems, education, social protection and employment, urban development and disaster risk management, transport, agriculture, water, and gender. The document highlights progress in stability alongside slowing growth and tracks key fiscal and social indicators through 2019–2026.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages84

Reading Time3 h 32 min

AccessFree to download

Key Messages

Macroeconomic Policies for Growth

Financial Sector

Governance

Business Environment and Innovation

Private Sector Participation in Public Infrastructure

Energy and Mining

Environment and Green Transition

Poverty and Inclusion

Health Systems

Education

Social Protection and Employment

Urban Development and Disaster Risk Managment

Transport

Agriculture

Water

Gender

Annex: Macro-Fiscal Indicators 2019-2026

Key References

• 1 Pub lic Disclosure Authorized Pub lic Disclosure Authorized Pub lic Disclosure Authorized Pub lic Disclosure Authorized © 2026 International Bank for Reconstruction and Development/ The World Bank Office, Serbia Bulevar Kralja Aleksandra 86, 11000 Beograd Telephone: +381 11 30 23 700; Internet: [https://www.worldbank.org/en/country/serbia](https://www.worldbank.org/en/country/serbia) This report is a product of the staff of the World Bank Group with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank Group, its Board of Executive Directors, or the governments they represent. The World Bank Group does not guarantee the accuracy of the data included in this work, which is drawn from multiple external sources. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgement on the part of the World Bank Group concerning the legal status of any territory orthe endorsement or acceptance of such boundaries. Nothing herein shall constitute, or considered to be, a limitation upon or waiver of the privileges and immunities of The World Bank Group, all of which are specifically reserved. Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of this knowledge, this work may be reproduced, in whole or in part for noncommercial purposes as long as full attribution to this work is given. Any queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; [e-mail: pubrights@worldbank.org](e-mail: pubrights@worldbank.org). Serbia POlicy Notes 2026 World Bank Group IV Table of Contents List of Tables, Figures and Boxes VII Key Messages IX 1. Macroeconomic Policies for Growth 1 2. Financial Sector 5 3. Governance 9 4. Business Environment and Innovation 13 5. Private Sector Participation in Public Infrastructure 17 6. Energy and Mining 21 7. Environment and Green Transition 25 8. Poverty and Inclusion 29 9. Health Systems 33 10. Education 37 11. Social Protection and Employment 41 12. Urban Development and Disaster Risk Managment 45 13. Transport 49 14. Agriculture 53 15. Water 57 16. Gender 61 Annex: Macro-Fiscal Indicators 2019-2026 65 Key References 67 Acknowledgments Acknowledgments: These Policy Notes were prepared by a joint World Bank and IFC Team led by Nicola Pontara (Country Manager, World Bank) and Marcelo Castellanos (Country Manager, IFC), including Richard Record (Lead Economist), Jasna Vukoje (Portfolio Analyst), Hermina Vukovic Tasic (Senior Operations Assistant) and Gordana Filipovic (Senior External Affairs Officer), with overall guidance from Xiaoqing Yu (Country Director for the Western Balkans). Authors and contributors to the notes include: Randa Akeel, Ruvejda Aliefendic, Bahodir Amonov, Ciro Avitabile, Axel E. N. Baeumler, Irene Bomani, Holti Banka, Henrike Brecht, Anna Berdzenadze, Chiara Broccolini, Bodin Bulatovic, Camilo Lombana Cordoba, Aleksandar Crnomarkovic, Predrag Djukic, Kornel Drazilov, Ferhat Esen, Mercedes Gutierrez Ferrandiz, Anna Fruttero, Augusto Garcia, Joey R. Ghaleb, Carlos Gustavo Ospino Hernandez, Jane C. Hwang, Marijana Jasarevic, Olivera Jordanovic, Klaudia Koxha, Aleksandra Krstic, Holger A. Kray, Alexandre Hugo Laure, Raimund Mair, Tamara Mihaljcic, Jovan Miljkovic, Valerie Morrica, Sarah Moyer, Ramon Munoz-Raskin, Bojana Naceva, Ivana Novakovic, Igor Palandzic, Tiago Peixoto, Marina Petrovic, Daniel Pulido, Zurab Sajaia, Lazar Sestovic, Guillermo A. Siercke, Luiz Gabriel Simoes, Zoran Skopljak, Elena Strukova, Srdjan Svircev, Zael Sanz Uriarte, Svetlana Vukanovic, Michele Davide Zini, Fang Zhang and Shuo Zhang. List of Tables, Figures and Boxes Table 1. Selected Policy Refo

FAQs

What central economic challenge does the policy notes highlight for Serbia in 2026?

The notes report remarkable macroeconomic stability, while the pace of economic growth is slowing. They also note improved fiscal consolidation results in a reduced budget deficit.

Which policy areas are addressed beyond macroeconomics in Serbia Policy Notes 2026?

Coverage extends to financial sector issues, governance, business environment and innovation, infrastructure, energy and mining, and environment and green transition. It further includes poverty and inclusion, health systems, education, and social protection and employment.

What annex data supports the notes’ policy analysis?

The annex focuses on macro-fiscal indicators covering the period from 2019 to 2026, providing trend-based context for the policy priorities discussed in the main chapters.

Jul 19, 2026

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