Southeastern Europe & Mediterranean Emerging Market Economies: Bi-Weekly Report 28 October - 10 November 2025

SERBIA
Prolonged political uncertainty weighs on economic sentiment
FY:25 GDP growth is revised further down to 1.8%, below that of its peers, due to prolonged political turmoil and disruptions in NIS operations
Continued fiscal support is set to cushion the economic slowdown

NORTH MACEDONIA
The outcome of local elections confirms the ruling VMRO-DPMNE’s dominance on the political stage
Further delays in North Macedonia’s EU accession process are on the cards
Addressing structural handicaps to accelerate economic convergence with the EU continues to be a challenge

ALBANIA
After 4 years of overperformance in construction & tourism, economic growth moderated this year, aligning more closely to its long-term potential, while still outperforming Albania’s peers
GDP growth is expected to maintain momentum in the period ahead, reaching around 3¾%, while becoming more balanced
Rapid progress with EU accession should help accelerate convergence with the EU


APPENDIX:
DETAILED MACROECONOMIC DATA
REGIONAL SNAPSHOT:  
        MACROECONOMIC INDICATORS
        FINANCIAL MARKETS