A rise in political, institutional, and regional geopolitical risk drives the Outlook change. Strong GDP growth and solid FDI inflows, a stronger external position, and modest public debt support the ratings.

The periodic review has resulted in no rating action.

Robust growth, favourable FDI prospects, and strengthened external metrics drive the Outlook revision. High external debt, institutional weaknesses, and political challenges for Serbia's EU membership remain constraints.

The periodic review has resulted in no rating action.

A robust long-term growth outlook and sound fiscal policy support the ratings. Substantial external debt and structural current account deficits are constraints.

Monitoring review announcement.

Monitoring review announcement

Resilient economy, moderate public debt and prudent fiscal policy support the rating. Structural current account deficit, a high foreign-currency share of public and private debt, and institutional weaknesses are challenges.