IMF on dynamics of Serbia's foreign debt

The IMF has stated in its latest report on Serbia that the dynamic of the country's foreign debt has largely remained unchanged compared to the previous report.

Izvor: Tanjug

Wednesday, 14.07.2010.

16:27

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The IMF has stated in its latest report on Serbia that the dynamic of the country's foreign debt has largely remained unchanged compared to the previous report. According to the IMF current projections, Serbia's total foreign debt will reach no more than 77.5 percent of the GDP in 2010. IMF on dynamics of Serbia's foreign debt Assuming the economic growth picks up speed gradually and the current account deficit stabilizes, the country's foreign debt will start dropping in 2011, reaching 66.3 percent of the GDP by 2015, which is slightly above the 2008 level, says the report. The momentum of Serbia's economic growth has decreased, and so the outlook for the next short-term period is worse than in the previous report. The reasons for that are the Greek crisis and its possible spread throughout the EU, which diminished the potential economic growth in Serbia and the surrounding region, the report reads. The uncertainties about the foreign environment will probably reduce export and investments, bringing down the projected GDP growth from 2 to 1.5 percent. On the other hand, the inflation has dropped to low single-digit numbers and the immediate concerns about foreign financing have toned down. The IMF expects the inflation in Serbia to be around the projected level, which is 6 plus or minus 2 percent.

IMF on dynamics of Serbia's foreign debt

Assuming the economic growth picks up speed gradually and the current account deficit stabilizes, the country's foreign debt will start dropping in 2011, reaching 66.3 percent of the GDP by 2015, which is slightly above the 2008 level, says the report.

The momentum of Serbia's economic growth has decreased, and so the outlook for the next short-term period is worse than in the previous report. The reasons for that are the Greek crisis and its possible spread throughout the EU, which diminished the potential economic growth in Serbia and the surrounding region, the report reads.

The uncertainties about the foreign environment will probably reduce export and investments, bringing down the projected GDP growth from 2 to 1.5 percent.

On the other hand, the inflation has dropped to low single-digit numbers and the immediate concerns about foreign financing have toned down. The IMF expects the inflation in Serbia to be around the projected level, which is 6 plus or minus 2 percent.

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