IMF mission arrives to Serbia

An International Monetary Fund (IMF) mission led by James Roaf is coming to Belgrade today to discuss matters pertaining to the sixth review under a precautionary stand-by arrangement with Serbia.

During the visit, which ends on 1st November, the mission will review fiscal performance and conclude talks about the 2017 budget; follow up on progress in the financial sector reform agenda, evaluate progress in key structural reforms; and discuss new structural conditionality for 2017, IMF Resident Representative for Serbia Sebastian Sosa announced earlier.

Also, Deputy Director of the IMF, Tao Zheng confirmed that Serbia’s overall results were good owing to effort investing in boosting public finances, improving structural reforms and investors having more trust. However, he said, certain flaws still remain like a very high public debt and challenges regarding the long-term structural reforms in the uncertain external surroundings. 

The IMF Executive Board approved a 36-month, 1.2 bln EUR stand-by arrangement for Serbia on 23rd February, 2015.

According to the IMF’s projections, Serbia’s GDP will grow by 2.5% in 2016, while the 2017 forecast predicts a 2.75% growth.

(Tanjug, Blic, 19.10.2016)

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