Raising the minimum wage from an opaque budget as the Deliblato Sands burns for new investors

Serbia's fiscal books leave too much hidden from public view, according to an IMF review commissioned by the Finance Ministry. The review found that the government does not publish the total scale of its rights, obligations and other exposures under public-private partnerships.

The assessment also identified state-owned companies as a significant source of fiscal risk, vulnerable to various quasi-fiscal activities. There is no regular reporting during the budget year on the use of the current budget reserve. Information on budget reserves appears only in the final budget account, while classified funds linked to state secrets are not disclosed there at all.

The analysis was carried out in January and February 2025, but its findings remained unpublished for more than a year and a half. Forbes Serbia presented the conclusions as part of its review of the week's most important stories.

The publication also obtained photographs showing work on the canopy of Novi Sad railway station before the formal reconstruction project began. The participants have remained silent, leaving the exact scope of the earlier work unclear. Available documentation indicates that the canopy was repaired, worn parts were replaced, a new sloping layer was poured, underside tiles were changed and a metal-and-glass structure was added over openings in the construction. Forbes Serbia questioned whether those works required a stability check, project documentation or approval, saying it found no trace of such approval in the relevant registry for the period.

A separate report focused on the Deliblato Sands fire, which official figures say devastated 3,500 hectares over more than a month. Five days before parliament voted on changes to the Planning and Construction Law, a committee inserted an amendment allowing construction on forest land damaged by fire. The law passed on the day authorities announced that the blaze had been brought under control. Forbes Serbia noted that the affected area could appeal to investors seeking to build a 2,000 to 4,000 megawatt power plant. The mining and energy minister had denied during the fire that a city was planned for the burned area.