Consumer durables is a cataloguing of consumer goods that are not essential to be bought very often as they are fashioned in a way so as to last for an extended period of time. Profits in the consumer durables sector were most profoundly…
BMI View: Serbia will remain an unattractive market for multinational drugmakers in comparison to its
regional neighbours. Government cost-containment, via severe drug price cuts, and continued economic
issues will dampen the country's growth outlook.
Headline Expenditure Projections
Pharmaceuticals: RSD91.42bn (USD840mn) in 2015 to RSD88.08bn (USD766mn) in 2016; -3.7% in
local currency terms and -8.8% in US dollar terms. Forecast unchanged from Q316.
Healthcare: RSD405.24bn (USD3.73bn) in 2015 to RSD414.284bn (USD3.60bn) in 2016; 2.2% in local
currency terms and -3.3% in US dollar terms. Forecast unchanged from Q316.
In our Q416 Pharmaceutical Risk/Reward Index (RRI), Serbia is ranked 18th out of 20 markets in the
Central and Eastern European (CEE) matrix with an unchanged score of 43.0 compared with the previous
quarter. Its position also remains unchanged, sitting one place above Uzbekistan (36.5) and just below
Kazakhstan (45.9). Serbia scores considerably below the regional average score of 52.4 in Q416. Serbia will
continue to be a challenging market for foreign investors, because of the prevalence of corruption, a largescale
black-market economy, and the poor state of the country's infrastructure and finances, in both public
and private spheres.