Serbian president Aleksandar Vučić he has never been under as much pressure as today, Frankfurter Allgemeine Zeitung assesses.
Part of Vučić's problems is, the paper writes, economic nature, and it has to do with the framework set by the American president Donald tramp.
"According to the unique assessments of economists, the economic growth of Serbia will be halved in 2025, foreign investments have fallen, domestic consumption is stumbling," the newspaper writes, adding that Vučić is also troubled student protests.
"In foreign policy, the swing policy of this candidate for the EU is increasingly being crowned, that fragile balance based on good relations with Moscow, Beijing, Washington and Brussels. And this has serious consequences for the domestic economy," adds FAZ, citing DW.
Trump's flattery is useless.
American sanctions affect the Serbian Oil Industry (NIS) in majority Russian ownership. "The USA, which wants to rein in Russian energy exports and thereby weaken the Russian war economy, demands that Gazprom withdraw. But the Russians don't want to sell. That puts Vučić in a bind."
It is said that Vučić tried to avoid the problem by having good relations with Trump. It's no coincidence, the newspaper says, that Trump's son-in-law Jared Kushner should have received the right to build on the area by a special law General Staff in Belgrade.
But the deal fell through when Kushner withdrew due to public protests and an indictment against Culture Minister Nikola Selaković.
"Kushner's withdrawal wasn't the only one. A few days later they were." The USA banned the import of tires from the Linglong factory in Zrenjanin, which belongs to Chinese investors. (...) Serbian exports to the USA remain burdened by an unusually high customs duty of 35 percent. It will hardly change because the USA ranks Serbia among countries with big deficits in the field of democracy, free elections and the rule of law."
A frown from Moscow
In this situation, writes the Frankfurt daily, the news that the USA has approved the NIS to work without sanctions until January 23rd, which once again starts the refinery in Pancevo, was welcomed by the Serbian authorities with great satisfaction.
Speculations have been fueled that Hungarian Prime Minister Viktor Orbán is behind the approval, which again brings the theory that Hungarian MOL could buy Gazprom's shares in NIS. The ADNOC concern from Abu Dhabi is also mentioned.
The article reminds that Moscow reacted negatively to earlier signals that Serbia could nationalize NIS, and that President Vladimir Putin reminded Serbia of its "obligations" from the contract.
"It is interpreted as a threat that Russia has extended the contract on the supply of gas to Serbia for only three months, until end of March 2026", the newspaper writes.
"The relations between the two Orthodox fraternal nations have already been disturbed before when Moscow strongly criticized the sale of Serbian ammunition to Ukraine. Such arms exports, which were praised by the West, were completely stopped by Vučić this summer, which was interpreted in industrial circles as Belgrade's unreliability," adds FAZ.
Black forecasts
The paper writes that they are disturbed and Belgrade's relations with the EU as the largest trading partner and investor - no new negotiating cluster was opened, and Vučić avoided going to the EU and Western Balkans Summit at the end of the year.
In addition, China does not announce new economic activities in Serbia.
"Internal protests against Vučić's government, external economic pressure, bad environment and uncertainty - all this has a negative impact on the development of the economy of this country with 6,5 million inhabitants," the newspaper writes.
The forecasts are bleak, Frankfurter Algemaine concludes - halved foreign investments, a decline in the construction sector, weak domestic demand and growth of only two percent for 2025. For this year, it is calculated with less than three percent, although the National Bank of Serbia is optimistic and announces 3,5 percent.
*This press selection contains quotes, excerpts and summaries from German-language media and does not reflect the views of the editorial team.
Source: DW
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