Serbia’s parliament has adopted a 2026 budget that sets a 3 % deficit and reserves 164 billion dinars (about $1.6 billion) for a potential state takeover of oil firm NIS.
Lawmakers endorsed the spending plan in Belgrade on Wednesday, approving a fiscal deficit of 337 billion dinars (about $3.35 billion), equivalent to 3 % of GDP, according to the Finance Ministry. The vote passed comfortably, with the ruling Serbian Progressive Party and its allies holding 154 seats in the 250-seat parliament.
Total revenues are projected at 2,414.7 billion dinars (about $24 billion) and expenditure at 2,751.7 billion dinars (about $27.4 billion).
The budget earmarks 164 billion dinars (about $1.6 billion) that Serbia could use to seize control of NIS, the country’s dominant oil company, from Russian owners Gazprom Neft and Gazprom if they fail to sell their stake by mid-January. NIS has been subject to U.S. sanctions since 2022.
Capital spending is set at 602 billion dinars (about $6 billion), including 47.5 billion dinars (about $470 million) allocated for Expo 2027, which Belgrade is preparing to host.
The plan also sets aside funds for the reintroduction of mandatory military service over the next three years, alongside increases in public-sector wages and pensions, officials said.
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A 77-year-old man and a 63-year-old woman were killed on Monday (4 May), after a man drove a car into a crowd on a pedestrianised street in the the eastern German city of Leipzig, authorities said.
At a time when geopolitical tensions continue to ripple across multiple regions, from Ukraine to the Middle East, the South Caucasus once again finds itself at the crossroads of diplomacy and uncertainty.
Austria has expelled three diplomats from the Russian Embassy over concerns that satellite installations on diplomatic buildings could be used for espionage.
A Russian missile strike killed six people in Ukraine’s Kharkiv region on Monday (4 May), as Kyiv reported fresh attacks on energy infrastructure and a sharp rise in drone strikes on ports.
A 77-year-old man and a 63-year-old woman were killed on Monday (4 May), after a man drove a car into a crowd on a pedestrianised street in the the eastern German city of Leipzig, authorities said.
Iran warned Armerican forces on Monday (4 May) not to enter the Strait of Hormuz, after the U.S. said it had launched a mission to try and reopen the sea passage. Meanwhile, Iran's Foreign Minister said there was no military solution to the Middle East conflict.
China has moved to block U.S. sanctions on five of its oil refineries, in a fresh escalation of tensions over trade and energy policy.
U.S. President Donald Trump has said he will “soon be reviewing” a new 14-point proposal sent by Iran, casting doubt on the chances of a deal after Tehran called for security guarantees, an end to naval blockades and a halt to the war across the region, including in Lebanon.
Ukraine has launched a new wave of drone strikes on Sunday (3 May) across Russia, hitting key infrastructure and causing casualties in several regions, officials on both sides said.
A 77-year-old man and a 63-year-old woman were killed on Monday (4 May), after a man drove a car into a crowd on a pedestrianised street in the the eastern German city of Leipzig, authorities said.
Austria has expelled three diplomats from the Russian Embassy over concerns that satellite installations on diplomatic buildings could be used for espionage.
A Russian missile strike killed six people in Ukraine’s Kharkiv region on Monday (4 May), as Kyiv reported fresh attacks on energy infrastructure and a sharp rise in drone strikes on ports.
Australia and Japan agreed on Monday to deepen cooperation on energy and critical minerals, as Japan’s Prime Minister Sanae Takaichi met her Australian counterpart Anthony Albanese during a three-day visit.
Australia began public hearings on Monday in an inquiry into the Bondi Beach mass shooting in December, with Jewish Australians giving evidence about their experiences of rising domestic antisemitism.
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