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Serbia Risks Losing 400 Million Euros as Reform Grace Periods Expire
๐Ÿ‡ท๐Ÿ‡ธ Serbia /Elections & Politics

Serbia Risks Losing 400 Million Euros as Reform Grace Periods Expire

From N1 Serbia · () Serbian

Translated from Serbian, summarized and contextualized by DistantNews.

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  • Serbia risks losing approximately 400 million euros by the end of the year due to expiring grace periods for reforms.
  • Grace periods for reforms planned for mid-2024 and 2025 are ending, with a one-year grace period for mid-2024 reforms having already expired at the end of June.
  • The European Commission has remained silent on whether Serbia currently meets the rule of law prerequisites necessary to access these funds, especially after issues at local elections.

Serbia faces a significant financial risk, potentially losing around 400 million euros by year-end if it fails to meet reform deadlines, according to Strahinja Subotiฤ‡, program manager and senior researcher at the Center for European Politics (CEP).

Subotiฤ‡ warned that grace periods for reforms scheduled for the second half of 2024 and 2025 are expiring. A one-year grace period for reforms planned for mid-2024 ended in late June. This expiration should automatically mean Serbia forfeits these funds.

Even if reform steps are implemented, accessing the funds hinges on meeting overarching rule of law prerequisites. The European Commission's strategic silence on whether Serbia currently fulfills these conditions, particularly following concerns raised during local elections, adds to the uncertainty. European Commissioner for Neighborhood and Enlargement, Marta Kos, previously indicated that the funds related to the expired grace period were between 100 and 130 million euros.

DistantNews Editorial

Originally published by N1 Serbia in Serbian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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