Serbia’s annual inflation rose 4.4% in March, down slightly from 4.5% in February. FX reserves dropped by USD 265 mln in March to USD 28.5 bln, the central bank has announced, owing to foreign exchange market interventions and sovereign debt repayment. Further, the energy minister has announced the construction of two new gas pipelines by 2028, connecting Serbia to North Macedonia and Romania, alongside construction of a new pipeline to Hungary.