# Serbia Credit Rating & Sovereign Risk Score

Makrognosis sovereign credit model scores Serbia at 48 out of 100 as of 9 November 2026, equivalent to BB+ on the familiar letter scale — speculative grade.
The score is down 0.2 points from 48 on 1 October 2026.
That places Serbia 71st of the 84 economies the model scores; Russia has the highest score at 100.
Key inputs include government debt of 43.6% of GDP, a fiscal balance of −2.8% of GDP, a current account balance of −0.04% of GDP.
This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

- Source: Makrognosis sovereign credit model
- Makrognosis code: `CREDIT:RS`
- Scale: 0–100 (100 = strongest credit); grade equivalent is model-implied
- Page: https://makrognosis.robomacro.com/data/serbia/credit-rating

## Score history

| Date | Score | Grade equivalent |
|---|---:|---|
| 2026-11-09 | 48.2 | BB+ |
| 2026-10-01 | 48.4 | BB+ |
| 2026-07-31 | 48.4 | BB+ |
| 2026-07-30 | 48.7 | BB+ |
| 2026-07-26 | 50.0 | BB+ |
| 2026-06-21 | 46.2 | BB |
| 2026-06-18 | 47.7 | BB+ |

## Inputs

| Input | Value |
|---|---:|
| GDP per capita | US$15,309 |
| Real GDP growth, 5-year average | 4.1% |
| Inflation, recent average | 2.7% |
| Government debt | 43.6% of GDP |
| Fiscal balance | −2.8% of GDP |
| Current account balance | −0.04% of GDP |
| External debt | 62.2% of GDP |
| Foreign-exchange reserves | 6.2 months of imports |
| Governance (World Bank WGI composite) | −0.203 |

## API

```
GET https://makrognosis.robomacro.com/v1/credit/RS
```