Dragoljub Rajić, director of the Cluster of Southeast European Railways: The global energy shock spills over into the region, putting the biggest pressure on small transport companies

- For now, the effects of the crisis caused by the war between the US/Israel and Iran are felt to a limited extent in the Western Balkans region. Mainly through the somewhat increased price of oil derivatives and through the cancellation of the arrival of goods contingents from countries affected by the war, such as derivatives for the production of plastics, mineral fertilizers, by-products obtained in the process of oil derivation, certain types of fruit and fruit products, etc.

Also, a series of planned investments by companies from the UAE, Qatar, Saudi Arabia, etc., were cancelled in the region, as these countries turn to investing in defense and other branches of industry due to war operations.

- With the duration of the war, price jumps of consumer goods, oil derivatives and food can definitely be expected. All of this leads to increased inflation and the danger of a public debt crisis in countries that are heavily indebted and have negative foreign trade balances, which are most of the Western Balkan countries.

- The position of small businessmen in the transport industry will be even more difficult, because they do not have financial reserves from which to cover losses for a long time, and our economy is mainly based on road transport. We still don`t have a real alternative in the form of railway or river transport, because the infrastructure is outdated, the largest corridors are being renovated, and we haven`t progressed far with alternative fuels (hydrogen, hybrids, etc.) either, and that requires huge investments that will be difficult to achieve in crisis conditions.