"Decisive moment for recovery of Serbian economy"

"Decisive moment for recovery of Serbian economy"

The government said in a statement that Vucic during the meeting "expressed gratitude to the IMF and the World Bank for the great help and the desire for Serbia to be macroeconomically organized on the path of development and prosperity."

He "stressed that good results are partly conditioned by the great sacrifice, but will not survive if the government is not fully committed to the further implementation of the program."

IMF Mission Chief for Serbia James Roaf said that the arrangement is successfully implemented and that Serbia is achieving excellent results in reference to set goals.

According to the government's website, he "emphasized the strengthening of investments in the private sector, which was contributed by positive trends and recovery on the fiscal side of the program."

Another topic of the meeting were "structural reforms that will be discussed during the visit of the delegation of the IMF," the government said, adding that "the most important are rationalization of employment in the public sector, the restructuring of large state-owned companies such as EPS, Srbijagas and Serbian Railways and the completion of the privatization process of the largest state-owned enterprises, including RTB Bor, Resavica, Petrohemija and others."

Roaf "pointed out that, in spite of serious talks about state-owned enterprises – mainly EPS, Srbijagas and Serbian Railways, as well as the issue of privatization, the IMF wants Serbia to continue on its successful road."

He "stressed the importance of infrastructure projects and the adoption of the law on financing of local governments, especially in terms of preparing the budget for next year, but also the reform of health care and education and the Tax Administration in the whole territory of Serbia."

Vucic "stressed that Serbia has had huge results, but has also set high goals, and added that he is proud of the results in the fiscal deficit, as well as the excellent revenues from VAT collection."

He was quoted as saying that it was "necessary to suppress the gray economy, through adequate motivation of citizens to seek fiscal accounts and to help the state in tax collection."

On the behalf of the government of Serbia, he conveyed gratitude to all members of the IMF delegation for the advice and supervision, noting that he expects intensive and productive discussions during the upcoming meetings.