Macut: Priority of new Government remains maintenance of macroeconomic stability

The mandate holder for the composition of the new Government of Serbia, Djuro Macut, stated, explaining the plans of that government, that in the sphere of economy the main priority remained the maintenance of macroeconomic stability, while creating conditions for more dynamic and sustainable economic development in the future.

– The financial system is safe and stable, with an investment-grade credit rating, high foreign exchange reserves, public sector deposits and a relatively low rate of public debt in comparison with the European average – he said in an exposition in the Serbian Parliament.

Macut pointed out that the public debt was on a downward trajectory and that it would amount to 46% of GDP by the end of the medium-term period.

– Fiscal discipline remains the key framework of economic policy with a targeted fiscal deficit of 3% of GDP, which enables the financing of key investments within the “Leap into the Future Serbia 2027” program, as well as the strengthening of the state’s security capacities – he stated.

He announced that the change in the fiscal rule of deficit limitation would be postponed until 2029 in order to fully implement the investment cycle.

In the coming period, he added, an acceleration of economic growth is expected.

– According to the macroeconomic projection, in the period 2025-2027, Serbia will achieve a cumulative growth of 13.7%, i.e. an annual growth rate of 4.4%. Growth will be driven by domestic demand, with continued growth in employment, wages and the living standard. Investment in infrastructure, energy and utility systems will contribute to the growth of investments, while public consumption will remain under control – he stated.

He also stated as an important goal the continuous improvement of the credit rating, because this opened up opportunities for more favorable financing, larger foreign investments and greater resilience to external shocks.

He also pointed out that the “Leap into the Future Serbia 2027” program represented the central development framework in the coming years with an investment of EUR 17.8 billion, adding that the successful realization of the specialized exhibition “Expo 2027” was particularly important.

– So far, 90 countries have confirmed participation in the exhibition, and a total of more than 120 countries, international organizations and companies are expected to present their visions of sports, music and innovation – said Macut.

He reminded that “Expo 2027” was connected to one of the biggest infrastructure projects in the history of Belgrade - the construction of the subway system.

– The works are proceeding according to the planned dynamics. The first line will connect Zeleznik and Mirijevo, the second will go from Bezaniia to Mirijevo, and both lines will cross at the Sava Square. A third line, Banjica - Bezanija, is also planned – said Macut.

The mandate holder emphasized that energy represented the foundation of the development of every country, which is why the priorities of the Government of Serbia would be directed towards the construction of new production capacities through investments in the transmission and distribution networks, diversification of sources and directions of supply and improvement of energy efficiency.

He pointed out that the most important strategic project at that moment was the construction of the pumped-storage hydroelectric power plant “Bistrica”, which would serve as a natural battery for balancing electricity from renewable sources.

– In partnership with companies from South Korea and the United States of America, we are also building solar power plants with battery storage – he stated.

He added that Elektroprivreda Srbije would significantly reduce its dependence on energy imports, especially in years marked by the drought.

– The Kostolac wind farm will be completed in 2025, and the new flue gas desulfurization facilities at the Nikola Tesla thermal power plant will enable 90 percent of the thermal capacity to be in compliance with environmental standards – said Macut.

He emphasized that the diversification of supply sources continued with the construction of gas interconnections with North Macedonia and Romania, but also with the expansion of the storage facility in Banatski Dvor.

According to him, the construction of gas power plants in Nis and Novi Sad is planned, and by 2027, the oil pipeline to Hungary will be completed, as well as the storage facility for oil derivatives in Smederevo, with a capacity of 120,000 cubic meters.

As part of capital investments in 2025 and 2026, he added, eight large projects will be implemented, among which are the construction of marinas in Veliko Gradiste, Golubac and near Sombor, as well as a new international pier in Banostor and other projects on the Danube.

Vlada Republike Srbije

Government of Serbia

Đuro Macut

hydroelectric power plant Bistrica

wind farm Kostolac

macroeconomic stability

public debt of Serbia

economic growth of Serbia

Leap into the Future Serbia 2027

Expo 2027

living standard in Serbia

unemployment in Serbia

credit rating of Serbia

Belgrade subway

construction of subway system