Author: Tatyana Gracheva
Georgia to introduce work permit system for foreign workers from March 1
Synopsis Georgia is introducing a mandatory work permit for most foreign workers from March 1, 2026, ending the current informal system. Employers must advertise vacancies before applying. Existing foreign workers have until January 1, 2027, to comply. This move aims to enhance labor market oversight and curb illegal employment, with penalties for non-compliance. Georgia will […]
Read moreLong-term residence in the Czech Republic: new requirements for Ukrainians and stricter integration criteria
The Czech Republic is tightening the conditions for Ukrainians to obtain long-term residence and is placing an emphasis on economic self-sufficiency. Find out what new requirements the government is setting and who will be eligible for special status The Czech government is changing its approach to Ukrainian refugees and plans to tighten the requirements for […]
Read moreEBRD supports small business growth and digital transformation in Serbia
€40 million to support Serbian SMEs, focusing on green finance and regional outreach €10 million to drive digital transformation and automation of local businesses, backed by EU incentives The finance package promotes innovation, competitiveness and gender inclusion in Serbia’s SME sector The European Bank for Reconstruction and Development (EBRD) is strengthening the competitiveness and resilience […]
Read moreKazakhstan to transform social sector through digitalization
Kazakhstan aims to secure employment for 547,700 citizens in 2026, as was announced on Tuesday, Qazinform News Agency reports. Aida Balayeva, Deputy Prime Minister and Minister of Culture and Information, chaired an expanded board meeting of the Ministry of Labor and Social Protection of the Population. The attendees included Minister of Labor and Social Protection […]
Read moreGeorgia’s E-Commerce Sector Expands Rapidly but Business Participation Remains Low
A new study by Galt & Taggart shows that Georgia’s e-commerce market continues to grow at a fast pace, yet only a small share of businesses are active online, leaving the country well behind European Union benchmarks. In 2024, just 4 percent of Georgian companies were engaged in e-commerce, compared with 21 percent in the […]
Read moreSmall business and digital transformation get a support from EBRD in Serbia
The European Bank for Reconstruction and Development (EBRD) offers a new financing package of up to €50 million for ProCredit Bank Serbia to strengthen the competitiveness and resilience of Serbia’s small and medium-sized enterprises (SMEs).
The package includes €40 million to support Serbian SMEs and €10 million to drive digital transformation and automation of local businesses.
It also promotes innovation, competitiveness and gender inclusion in Serbia’s SME sector.
The Financial Intermediaries Framework provides the first loan with at least 30 per cent of the funds dedicated to green investments. The Go Digital in the Western Balkans program gives the second loan.
As a result, SMEs in Serbia will grow easier with the help of the new funding. The advantage is that these businesses will create most of the country’s jobs and economic value. Nevertheless, they will often struggle to access long-term financing. Also, the adoption of EU standards, energy efficiency will be promoted by the finance package. Moreover, gender inclusion will cause capacity building for women-led businesses.
According to Aleksandra Vukosavljević, EBRD Director for Financial Institutions in the Western Balkans and Eastern Europe, it is vital for the country’s sustainable economic development to support the growth and digital transformation of Serbia’s SMEs. She says that they help businesses get access to the long-term funding and expertise they need to innovate, become more competitive and accelerate their green transition with this new financing. Other goals are empowerment of women entrepreneurs and promotion of inclusive growth. Strong track record and commitment to responsible banking make ProCredit Bank Serbia’s an ideal partner for delivering real impact on the ground.
As Igor Anić, President of the Executive Board of ProCredit Bank, says, this new financing package from the EBRD further strengthens their long-term commitment to supporting SME growth in Serbia. It will expand access to financing for businesses across the country, with at least 30 per cent dedicated to green investments. Simultaneously, the additional €10 million from the Go Digital program will help accelerate the digital transformation and automation of local companies. Also, the cooperation with the EBRD will deepen. Moreover, SME development will become more sustainable and competitive due to jointly promote innovation.
The EBRD and ProCredit Bank Serbia are long-standing partners and leading SME lenders in the country. They serve over 6,000 clients with a strong focus on green finance and digital innovation.
Also, the EBRD is a leading institutional investor in Serbia. It has invested more than €10 billion through more than 400 projects. Most of these projects have supported the private sector. Enhancing private-sector competitiveness, productivity and access to finance are the Bank’s priorities in Serbia.
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Read moreAllianz Trade reports Serbia’s economy growth by 3.5-4% in 2026-2027
A global trade credit insurer Allianz Trade expects Serbia’s economic growth to quicken to 3.5-4% in 2026 and 2027, compared to an estimated 2.1% increase in 2025.
As Allianz Trade said in its annual research Country Risk Atlas 2026 published on Monday, wage growth and easing inflation should help private consumption remain resilient. Nevertheless, tighter labor market conditions and slowing productivity gains may cap momentum. Public investment is still acting as a short-term growth anchor, yet its net domestic spillovers import-intensive nature is reduced.
Also, strategic infrastructure and energy projects ahead of the EXPO 2027 support Serbia’s medium-term growth potential. This international exhibition to be held in Belgrade has also links with the country’s diversification efforts.
Allianz Trade expects inflation to remain within target and to allow for cautious monetary easing, despite the renewed food or energy price shocks that could reintroduce volatility. They also add that external demand remains a mild drag, given weak performance of Serbia’s key European partners.
A six-month cap on retail margins on staples and basic goods at 20% was imposed the Serbian government in September aiming to ease inflation pressures. It resulted in slowing annual consumer price inflation gradually to 2.7% in December from August’s 4.7%. The central bank expects annual inflation to remain within the 1.5-4.5% target range in the short term.
As Allianz Trade noted, Serbia’s cyclical risks are manageable. Nevertheless, they could tilt to the downside if global financial conditions tighten or domestic confidence weakens ahead of key political milestones. Meanwhile, improved market credibility, declining public debt and continued access to domestic and international funding can benefit the financing profile of the country. Also, investor appetite for dinar- and euro-denominated debt supports this tendency.
Despite a good capitalization of the banking sector, tightening credit terms annoy smaller firms and households. Also, sustained FDI inflows to offset import-heavy investment cause the current account deficit.
Politically speaking, balancing between hopes for EU accession and close ties with Russia and China define Serbia’s foreign policy. This position “adds strategic ambiguity, exposing the country to shifting external pressures”. Additionally, episodic security and diplomatic risks arise from unresolved tensions with Kosovo.
Meanwhile, prolonged protest against incumbent politicians with increasing medium-term succession and institutional risks dominate domestic politics. According to Allianz Trade, it creates public opposition to mining and energy projects, especially lithium. This protest might intensify social unrest and delay strategic investments.
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Read moreThe government started financing “Made in Ukraine” programs in 2026
The government has decided to allocate funds from the special fund of the state budget for 2026. financing of such programs is provided: 1.8 billion UAH — for partial The Government has decided to allocate funds from the special fund of the state budget for 2026. UAH 1.8 billion is for partial compensation (25%) of […]
Read moreSerbia’s economy to grow 3.5-4% in 2026-2027 – Allianz Trade
Serbia’s economic growth is expected to quicken to 3.5-4% in 2026 and 2027 from an estimated 2.1% increase in 2025, global trade credit insurer Allianz Trade said. “Private consumption should remain resilient, supported by wage growth and easing inflation, but tighter labor market conditions and slowing productivity gains may cap momentum. Public investment continues to […]
Read moreKazakhstan Jobless Rate Remains at 4.6%
The unemployment rate in Kazakhstan stood at 4.6% in the fourth quarter of 2025, unchanged for the fifth consecutive quarter. The number of unemployed individuals declined by 2.5 thousand year-on-year to 445.7 thousand, while total employment rose by 81.9 thousand to 9.28 million. Hired employment increased by 94.3 thousand, while self-employment fell by 12.4 thousand. […]
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