IMF: Growth of GDP in Serbia speeding up

The International Monetary Fund (IMF) stated that Serbia would be returning to a high rate of growth of its gross domestic product (GDP) in 2012 and 2013.

Izvor: Beta

Saturday, 10.04.2010.

17:12

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The International Monetary Fund (IMF) stated that Serbia would be returning to a high rate of growth of its gross domestic product (GDP) in 2012 and 2013. The IMF’s new report on Serbia published on its official site, states that the growth of the GDP will speed up to five percent in 2012, and 5.5 percent in 2013. IMF: Growth of GDP in Serbia speeding up The conditions for achieving this growth are strong fiscal accommodations and structural reforms as a starter, the IMF stated. The IMF stated that significant growth in exports from Serbia is expected in 2011 and that the GDP is expect to see an increase of three percent in 2011. The report states that the inflation rate would continue to drop in Serbia and would stabilize at about four percent annually, taking into consideration monetary and fiscal policies. The institution said that the more lenient monetary policies of the National Bank of Serbia (NBS) are in accordance with the decreased inflation and the agreed upon program. The report was given after the completion of the third revision of the stand-by agreement between Serbia and the IMF and an analysis of the economic situation based on consultations according to article four. Serbia withdrew another EUR 180mn after the successful third revision, of the total credit of EUR 2.9bn promised by the IMF. Serbia has thus far withdrawn EUR 1.2bn of the credit to strengthen its foreign reserves. The next revision is scheduled for May, and consultations according to article four are expected to be done in two years.

IMF: Growth of GDP in Serbia speeding up

The conditions for achieving this growth are strong fiscal accommodations and structural reforms as a starter, the IMF stated.

The IMF stated that significant growth in exports from Serbia is expected in 2011 and that the GDP is expect to see an increase of three percent in 2011.

The report states that the inflation rate would continue to drop in Serbia and would stabilize at about four percent annually, taking into consideration monetary and fiscal policies.

The institution said that the more lenient monetary policies of the National Bank of Serbia (NBS) are in accordance with the decreased inflation and the agreed upon program.

The report was given after the completion of the third revision of the stand-by agreement between Serbia and the IMF and an analysis of the economic situation based on consultations according to article four.

Serbia withdrew another EUR 180mn after the successful third revision, of the total credit of EUR 2.9bn promised by the IMF.

Serbia has thus far withdrawn EUR 1.2bn of the credit to strengthen its foreign reserves.

The next revision is scheduled for May, and consultations according to article four are expected to be done in two years.

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