Vucic: Global economy to grow at slower pace than Serbian economy

BELGRADE - The Serbian economy is currently projected to grow 2.8 pct in 2026, but authorities expect a strengthening construction sector to potentially take that growth to up to 3 pct, Serbian President Aleksandar Vucic said on Thursday, adding that the global economy would be growing at a slower pace compared to the Serbian economy.

Speaking to reporters after the signing of documents with the Chinese construction company Shandong to build the Commander Karadjordje Expressway, Vucic said that, according to initial estimates for Q1 2026, 3.0-3.1 pct growth was expected.

"That is a really good Q1 estimate. Our construction sector has underperformed, and that is why we must now boost both civil engineering and building construction and, above all, the issuance of (construction) permits in Belgrade, Novi Sad, Kragujevac and Nis, so that we can maintain growth and try to keep everything at 3 pct," Vucic added.

He said international institutions, including the International Monetary Fund, the World Bank and the World Economic Forum, had projected 3.5 pct growth for Serbia in 2027.

Vucic added that developed countries would be registering approximately 1.7 pct growth at the same time, making Serbia's growth rate more than twice as high in comparison.

Vucic: Talks with MOL underway, I am hoping for compromise

BELGRADE - Serbian President Aleksandar Vucic said on Thursday talks on an acquisition of a Russian majority stake in the Serbian oil company NIS were underway with Hungary's MOL and that a final decision was due in the coming days.
NIS is under US sanctions due to its Russian majority ownership.

"As far as MOL is concerned, discussions are underway with the Hungarian company - they are underway at this very moment," Vucic told reporters in Belgrade when asked about progress in the talks.

"To some, it seemed that they can blackmail us and that we can accept solutions that are unacceptable to Serbia. I am hoping for compromise - if there is compromise, then there is, if there is not, then there is not," Vucic said.

He added that there were some "strange" demands regarding NIS, but refused to elaborate.

"I hope it will be finished next week because the sanctions are set to be extended on May 22. In a situation like this one, in a crisis situation like this one, amid problems such as these, the country must function normally," Vucic said.

"We have some four or five points of contention, but we are ready for compromise. I believe the Hungarian side, too, as well as the Russian side, is ready for compromise," he said.

He added that he had been trying to maintain good relations with all parties since the moment the US had imposed the sanctions.