IMF expects economy to recover

The International Monetary Fund (IMF) has announced that the outlook for Serbia's economy for 2010 points to a slow but balanced recovery.

Izvor: Tanjug

Thursday, 08.04.2010.

14:14

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The International Monetary Fund (IMF) has announced that the outlook for Serbia's economy for 2010 points to a slow but balanced recovery. The IMF assessed that the country has weathered the global financial crisis relatively well. IMF expects economy to recover The report of the IMF Executive Board, following the consultations with Serbia, says that the pick-up in growth in 2010 will likely be moderate – at two percent. The current account deficit is expected to widen slightly reflecting a drop in remittances relative to 2009, the IMF predicts. Concerning the period to come, it was agreed that policies should shift the economy toward more sustainable growth, with resolute reduction of external and fiscal imbalances. Against this background, they welcomed the authorities’ focus on strengthened structural and fiscal policies aimed at raising productivity, exports, and saving. IMF also welcomed the agreed package of parametric pension reforms and looked forward to its early approval by the Serbian parliament. The authorities should also speed up additional spending reforms in the education, health, and administration sectors, the report adds.

IMF expects economy to recover

The report of the IMF Executive Board, following the consultations with Serbia, says that the pick-up in growth in 2010 will likely be moderate – at two percent.

The current account deficit is expected to widen slightly reflecting a drop in remittances relative to 2009, the IMF predicts.

Concerning the period to come, it was agreed that policies should shift the economy toward more sustainable growth, with resolute reduction of external and fiscal imbalances. Against this background, they welcomed the authorities’ focus on strengthened structural and fiscal policies aimed at raising productivity, exports, and saving.

IMF also welcomed the agreed package of parametric pension reforms and looked forward to its early approval by the Serbian parliament. The authorities should also speed up additional spending reforms in the education, health, and administration sectors, the report adds.

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