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investment.
The factory has a production capacity of 2,000 cubic metres per day, which the company claims makes it the largest in Europe. The company was given a €10mn investment grant by the Romanian government for this project.
TeraPlast Group inaugurated its new stretch film factory in the Sărățel Industrial Park following a total investment of €18.5mn, of which €5.3mn was provided as state aid. The company has also expanded in Croatia, Hungary and Moldova.
5.10 Real Economy – Serbia
5.10.1 Retail
Serbia's retail sector, a key driver of economic growth and employment, is poised for further expansion in 2025, building on its strong performance in 2024.
Retail trade turnover grew by 10.8% at current prices and 6.7% at constant prices during the first nine months of 2024 compared to the same period in 2023. This growth was underpinned by easing inflation, rising wages and resilient consumer spending.
In 2024, inflation deceleration and robust real wage growth played a significant role in bolstering consumer confidence. By May, average net salaries had risen 11.2% y/y in real terms, surpassing the six-digit milestone of RSD100,170. Despite achieving double-digit growth in April, the sector maintained healthy single-digit growth rates in subsequent months.
Investment in infrastructure and market expansion further solidified the sector’s foundations in 2024. Delhaize Serbia inaugurated a €43mn state-of-the-art distribution centre in Dobanovci, enhancing supply chain efficiency. Several international retailers are set to enter the Serbian market in 2025. Russian chain Mere plans to launch its first mega market, while Europe's leading perfume and cosmetics retailer, Notino, and Italian discount food chain Eurospin are preparing for market entry.
The outlook for 2025 is optimistic, with the retail sector expected to benefit from continued economic improvements and the growing presence of international brands. These developments are anticipated to enhance consumer choice, foster competition and sustain the sector’s upward trajectory.
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