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Serbia's progress in implementing economic reforms commended
Belgrade/Washington,
15 April 2016
Minister of Finance Dusan Vujovic met in Washington with World Bank Regional Director for Southeast Europe Ellen Goldstein.
The meeting, held in the framework of the spring session of the International Monetary Fund (IMF) and the World Bank, praised Serbia's progress in implementing the three-year stand-by precautionary arrangement which the government of Serbia in early 2015 concluded with the IMF.
Goldstein assessed that Serbia has achieved outstanding results in the field of macro monetary stabilisation and fiscal consolidation, but also a turn in the trend of GDP growth from negative to positive, which unquestionably points to the positive development in the implementation of the programme.
Speaking about the next steps in the implementation of the programme, Vujovic said that Serbia needs to persevere with structural reforms that have already been started and continue with the dynamic economic growth and a stable macroeconomic situation, emphasising the importance of the support in this area through structural and other loans, provided by the World Bank.
Goldstein said that Serbia is sending a positive message to the world and stressed that she is optimistic and that she is sure that the set objectives will be achieved.
She supported the commitment of the government of Serbia to continue reforms of education and health, with special reference to the “Early Child Development Programme” and support for the construction of new schools.
In addition, Goldstein informed the Minister of Finance of the planned activities of the World Bank to prepare an action plan to support trade and cooperation in the Western Balkans, which will be the theme of the next summit scheduled for early July in Paris.
This summit is a continuation of last year's meeting in Vienna, which was preceded by the Berlin Initiative, which began two years ago.
During the bilateral meeting they agreed on a set of activities that the bank will support, which is based on three main levers: programme for companies in the portfolio of the Privatisation Agency, the reform of public enterprises and public sector reform.
The World Bank will continue to work intensively on the preparation of future activities within the four-year plan of cooperation between Serbia and these financial institutions, according to a statement by the Ministry of Finance.
Goldstein assessed that Serbia has achieved outstanding results in the field of macro monetary stabilisation and fiscal consolidation, but also a turn in the trend of GDP growth from negative to positive, which unquestionably points to the positive development in the implementation of the programme.
Speaking about the next steps in the implementation of the programme, Vujovic said that Serbia needs to persevere with structural reforms that have already been started and continue with the dynamic economic growth and a stable macroeconomic situation, emphasising the importance of the support in this area through structural and other loans, provided by the World Bank.
Goldstein said that Serbia is sending a positive message to the world and stressed that she is optimistic and that she is sure that the set objectives will be achieved.
She supported the commitment of the government of Serbia to continue reforms of education and health, with special reference to the “Early Child Development Programme” and support for the construction of new schools.
In addition, Goldstein informed the Minister of Finance of the planned activities of the World Bank to prepare an action plan to support trade and cooperation in the Western Balkans, which will be the theme of the next summit scheduled for early July in Paris.
This summit is a continuation of last year's meeting in Vienna, which was preceded by the Berlin Initiative, which began two years ago.
During the bilateral meeting they agreed on a set of activities that the bank will support, which is based on three main levers: programme for companies in the portfolio of the Privatisation Agency, the reform of public enterprises and public sector reform.
The World Bank will continue to work intensively on the preparation of future activities within the four-year plan of cooperation between Serbia and these financial institutions, according to a statement by the Ministry of Finance.
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