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IMF commends, encourages Serbia to continue with reforms
Belgrade,
5 July 2017
Minister of Finance Dusan Vujovic estimated today that Serbia has achieved all the agreed measures in the seventh revision of the precautionary arrangement with the International Monetary Fund (IMF).
Dusan Vujovic
At a press conference in the government of Serbia, Vujovic pointed out that this is a preliminary verification of the results of reforms agreed with this international financial institution, which our country implements on the basis of a precautionary arrangement.
He illustrated the results, saying that the government is still planning to increase GDP by 3% this year, adding that the public debt has been reduced to 67.1%, while the budget deficit has been revised from the initial target of 1.7% to 1.1%.
Also, he added, the country's risk premium has been downsized four times, which means that our costs are lower when we borrow.
The Minister also specified that the surplus in the budget at the end of June amounted to RSD 33.2 billion, which is RSD 80 billion above the plan, noting that exports in the first five months increased by 13.3%.
He illustrated the results, saying that the government is still planning to increase GDP by 3% this year, adding that the public debt has been reduced to 67.1%, while the budget deficit has been revised from the initial target of 1.7% to 1.1%.
Also, he added, the country's risk premium has been downsized four times, which means that our costs are lower when we borrow.
The Minister also specified that the surplus in the budget at the end of June amounted to RSD 33.2 billion, which is RSD 80 billion above the plan, noting that exports in the first five months increased by 13.3%.
James Roaf
IMF Head of Mission James Roaf emphasised that the Serbian government and the National Bank of Serbia (NBS) have dramatically strengthened the economy and improved the economic situation.
The IMF anticipates a 3% growth this year, he said with a deficit projection of only 1.1 GDP, the lowest since 2005.
Also, as he added, this financial institution noted that public debt is falling faster and earlier than expected.
The IMF anticipates a 3% growth this year, he said with a deficit projection of only 1.1 GDP, the lowest since 2005.
Also, as he added, this financial institution noted that public debt is falling faster and earlier than expected.
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