Country Reports

Serbia Country Report

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Risk Level

Very High


Executive Summary

The anti-government protests centralised in Serbia’s capital Belgrade from the end of 2018 and the beginning of 2019 have increased the risk of a snap election in 2019. The lack of organised opposition, however, makes it unlikely that a snap election would produce a radically different outcome from the current situation. Currently, the ruling coalition led by the Serbian Progressive Party (SNS) enjoys a parliamentary majority, while the popularity of President and SNS leader Aleksandar Vučić s likely to remain unparalleled in Serbia's political scene. The government's actions continue to be governed by the objective of achieving EU membership with some steps made in improving the business environment and the labour market. However, Serbia is still to achieve significant progress in strengthening the public administration, judiciary independence, state-owned enterprises governance and the anti-corruption framework. EU membership would also require normalisation of relations with Kosovo, with Serbia refusing to recognise Kosovo's independence. EU membership is unlikely before 2026.We forecast GDP growth at 3.6% in 2019 and 2020. Domestic demand will remain the main growth driver in 2019–20, supported by improvements in the labour market, rising wages, including an increase of the minimum wage by 9% as of January 2019, a reversal of crisis-era pension cuts, and the increased availability of consumer credit. Investment is forecast to contribute to growth as credit availability improves amid falling non-performing loans, the low interest rate environment, and inflows of foreign direct investment. The main risks to our forecast include a slowdown in the euroarea, Serbia’s main export partner, and an escalation in regional trade protectionism, after Kosovo imposed 100% tariffs on all goods imports from Serbia in November 2018.
Last update: March 26, 2019

Operational Outlook

The quality of the infrastructure and the workforce is generally adequate. One important hurdle to conducting business in Serbia is the country's oversized bureaucracy, which remains as a rule inefficient. Corruption and organised crime remain a persistent problem in business circles and across nearly all sectors of the public administration. Some progress has been made in simplifying procedures for issuing construction permits and adopting business-friendly changes to the labour law.

Last update: October 18, 2018



Security incidents are likely to be concentrated along Serbia's border with Kosovo, although they are primarily likely to involve illegal logging rather than political terrorism. In Sandžak, there is a moderate risk of local Islamist extremists attacking assets or officials affiliated with rival Islamic communities or state assets and personnel.

Last update: October 17, 2018

War Risks

Serbia has improved its relations with neighbouring states, most of which are members or candidates for membership of NATO, reducing therefore inter-state war risks. The primary potential source of armed conflict is related to Kosovo, which declared independence from Serbia in February 2008. However, EU-facilitated "status-neutral" negotiations between Serbia and Kosovo have opened the way for a normalisation of bilateral relations. The risk of interstate war would increase if Serbia's prospects for EU membership diminished significantly as a result of enlargement fatigue.

Last update: October 17, 2018

Social Stability


The concentration of power in the hands of President Aleksandar Vučić, as well as the infringement on freedom of speech, will continue to trigger anti-government protests by organisations such as Ne Da(vi)mo Beograd. However, the ability of opposition groups to organise a mass movement and seriously challenge the government is limited, as evidenced by the abating number of protesters participating in anti-government protests since Vučić's election in April 2017.

Last update: October 18, 2018

Health Risk

Very high

Vaccinations required to enter the country

No vaccinations are required to enter the country.

Routine Vaccinations

Hepatitis A: A vaccine is available for anyone over one year of age. The vaccine may not be effective for certain people, e.g. those born before 1945 and who lived as a child in a developing country and/or have a past history of jaundice (icterus). These people can instead get a shot of immune globulin (IG) to boost their immunity against the disease.

Hepatitis B: A vaccine is available for children at least two months old.

Diphtheria-Tetanus-Polio: A booster shot should be administered if necessary (once every ten years).

Other Vaccinations

Typhoid Fever: If your travels take you to regions with poor sanitary conditions (for children two years old and up).

Rabies: For prolonged stays in an isolated region (for children from when they can walk).

Tick-Borne Encephalitis: For stays in rural zones and for hiking enthusiasts (for children over the age of one).

For Children: All standard childhood immunizations should be up-to-date. In the case of a long stay, the BCG vaccine is recommended for children over one month and the MMR (measles-mumps-rubella) vaccine for children over nine months.

Last update: April 5, 2019

Practical Information


Serbia has a continental climate. Winters are cold (0°C) and dry. Summers are hot, humid, and often rainy.

Useful Numbers

Country Code: +381
Police: 92
Fire Dept.: 93
Ambulance: 94


Voltage: 220 V ~ 50 Hz


Last update: April 5, 2019