The first forecasts of the world institutions are that because of the war in Ukraine, Serbia will have growth lower than one percent of the planned, will suffer damage due to the non-imposition of sanctions against Russia, the Serbian newspaper "Danas" writes today.

Everything on the topic:

The Russian invasion of Ukraine 4642

The state leadership claims that Belgrade will not choose a country between Russia and the West, but the damage already amounts to almost a billion euros, regardless of whether Serbia imposes sanctions or not, the newspaper writes.

Vucic: Serbia is paying a very high price for not imposing sanctions on Russia

According to former Ambassador Srecko Djukic, Serbia now loses just over $ 1 billion a year just because of EU sanctions against Russia.

The public rightly raises the question of what price Serbia will have to pay if it imposes or does not impose sanctions on Russia.

I think the EU knows what the bill is.

He knows what President Alexander Vucic is like.

The only ones who do not know are the citizens of Serbia, Djukic was quoted as saying by BTA.

About 35% of Serbs believe that the Russian invasion of Ukraine is justified

Economist Mihailo Gaic told Nova.rs that economic consequences are possible for Serbia if it imposes or does not impose sanctions on Russia.

The war in Ukraine costs Serbia a lot, and this can be seen in the projected growth, which by the end of this year will be 3.5 percent instead of 4.5 percent.

Europe's economy has slowed, and this is affecting Serbia.

We are facing a difficult choice, and the options are not good in any case, Gaic explained.

Economist Vladimir Gligorov pointed out that the losses for Serbia at this time would be very large if friendly prices for Russian gas were not accepted. 

Most Serbs oppose the country's EU membership

In December last year, Serbia reached an agreement with Russia to receive gas at a friendly price for the next six months - $ 270 per 1,000 cubic meters, and after the expiration of the current gas import agreement, Belgrade will still receive a huge discount.

An additional problem is the possible political instability.

It is hoped that the reaction of the United States and the European Union will not be very negative at first.

In the long run, there is a choice between lower gas prices and lost economic development, Gligorov said.

The IMF has lowered its growth forecast for the Serbian economy this year

He emphasized that the long-term problem was that the EU would secede economically from Russia, and thus from Serbia, if it did not align with Brussels' policy.

In the short term, it is likely that joining the sanctions regime would lead to political problems in Serbia.

In the longer term, possible disappointment, especially in Germany, with the behavior of the Serbian authorities could have serious consequences.

The problem will be that the EU will secede economically from Russia, and then from countries like Serbia.

And Serbia has no substitute for the EU market.

In that case, there is a risk not only to economic growth but also to the country's development, Gligorov warned.

The Russian invasion of Ukraine

Serbia