WHITEFLAG

Sovereign Asset Re-Optimization Portal

Serbia

SRB

Serbia: 6.6 million population; upper-middle-income economy. Exports: machinery, mineral products; imports: machinery, mineral fuels, chemicals. Parliamentary republic under PM Ana Brnabi. EU candidate but Kosovo recognition blocking accession. Russia/China ties maintained. #95 Big Mac Index.

Headline valuation

Enterprise value
$1.34T
Scenario range
$674.3B – $1.36T
Confidence
60.0%
Integration scenario
Contested Integration

Balance sheet

Total assets
$1.49T
Total liabilities
$107.5B
Base enterprise value
$1.38T

Creditor concentration

Risk score (0-100)
40.8
Buyer autonomy
medium
Creditor HHI
0.6800

Climate & resources

Climate status
CLIMATE_VULNERABLE
Water tier
MODERATE
ND-GAIN vulnerability
0.44
ND-GAIN readiness
0.58

Top acquisition targets (Serbia as buyer)

Computed by SAPA (Sovereign Acquisition Propensity Algorithm). Higher probability = stronger structural fit for Serbia acquiring this target.

  1. Kosovo (XKX): probability 0.46, deal value $25.3B, driver: Strategic
  2. Tunisia (TUN): probability 0.38, deal value $126.2B, driver: Strategic + Resources + Human_Capital
  3. Jordan (JOR): probability 0.37, deal value $164.7B, driver: Strategic + Resources + Human_Capital
  4. Libya (LBY): probability 0.37, deal value $252.3B, driver: Strategic + Resources
  5. Bosnia and Herzegovina (BIH): probability 0.28, deal value $69.3B, driver: Financial_Opportunity

About this valuation

This valuation is computed monthly by the WHITEFLAG sovereign asset valuation framework — a five-scenario rigorous model that prices nations as transferable enterprise units. See the full methodology for the formulas and data sources.

Sources: CIA World Factbook, World Bank (population, poverty, economic data), IMF World Economic Outlook (economic classification, trade), The Economist Big Mac Index (PPP comparison), Trading Economics (macroeconomic indicators), Official Government Statistical Agencies

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