First Deputy Prime Minister and Minister of Finance Siniša Mali today began a working visit to Washington, where he is taking part in the Annual Meetings of the World Bank Group and the International Monetary Fund (IMF).
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Serbian economy maintains stability amid global challenges
Belgrade/Washington,
16 October 2025
At the beginning of his visit, Mali attended the Constituency meeting, after which he met with IMF Deputy Managing Director Bo Li and Director of the European Department Alfred Kammer.
He stated that the meetings of the World Bank Group and the IMF are of great importance for assessing global economic trends, noting that the main message from today’s discussions is that there remains significant uncertainty regarding global challenges, given the ongoing conflicts worldwide, the tariffs imposed by the US administration on other countries, the stock market downturn and strong pressures on trade.
The First Deputy Prime Minister pointed out that, according to IMF projections, by 2029 the amount of global public debt will exceed the value of global GDP and reach more than 100%, a situation from which even the more developed economies currently see no clear way out. He noted, however, that Serbia is coping well with these challenges.
Mali also highlighted the uncertainty surrounding the operations of oil company Naftna Industrija Srbije (NIS), noting that although this currently poses a major challenge, it could also present an opportunity for faster growth and increased investment in Serbia’s energy sector.
According to him, at a time when the entire world is seeking new sources of growth, Serbia continues to invest, allocating 7.4% of GDP to capital projects.
The First Deputy Prime Minister noted that he also discussed with IMF leaders the measures undertaken by the state to improve the living standards of Serbian citizens, announcing that an IMF mission will pay a regular visit to Belgrade next week.
Mali underlined that it is encouraging that there is considerable interest from US investors in Serbian government securities, which demonstrates the strong trust Serbia has built with them.
Speaking about US tariffs, he said that Serbia had received a proposal a few weeks earlier outlining the framework of a potential trade agreement with the United States, noting that Belgrade is ready to continue discussions with the US administration and expressing confidence that the agreement will be finalised very soon.
On the first day of his visit to Washington, the First Deputy Prime Minister also had talks with representatives of financial services company Morgan Stanley, while tomorrow he will meet with heads of three international rating agencies – S&P Global Ratings, Moody’s and Fitch Ratings.
The Serbian delegation at the Annual Meetings of the World Bank Group and the IMF also includes Governor of the National Bank of Serbia Jorgovanka Tabaković.
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Author: Ministry of Finance -
Author: Ministry of Finance -
Author: Ministry of Finance -
Author: Ministry of Finance
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