Economist Aleksandar Stevanović believes that Serbia will face serious economic challenges in 2026, including the unsustainability of the current growth model, problems related to the Oil Industry of Serbia (NIS), the impact of drought on agriculture and uncertainty in the energy market.
As he explained in an interview with Newsmax Balkans, one of the country’s internal economic challenges is that the current growth model is unlikely to remain viable, regardless of who is leading Serbia. “Another challenge is the extreme level of political conflict in Serbia. This slows growth and creates problems,” Stevanović stressed.
As for external challenges, he singled out the situation surrounding NIS, as well as the impact of drought on agriculture and uncertainty in the energy market. “The problem with NIS is the result of short-sighted policy that began in 2008 and continued in the years that followed,” our interviewee said.
He assessed that the drought will have some impact on agriculture, but that more precise figures will only be available towards the end of the year.
Speaking about the energy market, Stevanović said he did not expect the situation to be significantly worse than last year. “I do not believe there will be any new challenges,” our interviewee assured.
“There was no way to influence the drought and low river levels”
It is important to distinguish between challenges over which there is some degree of control and those to which Serbia must adapt. When we talk about everything happening at the global level, including wars and climate change, these are factors beyond our reach. What we can do is prevent their negative effects from spilling over into our economy and society. This year’s drought and low river levels are examples of this, as they have affected electricity generation. De facto, there was nothing we could do to influence these factors. However, they have affected electricity production and, ultimately, can affect citizens when it comes to prices. Such situations can be addressed in the short term, but it is also important to think long term by ensuring energy stability and developing alternative methods of electricity generation.
Source: Newsmax Balkans, 12.08.2026