Serbia's economic program delivering strong results - IMF

Serbia’s economic program continues to deliver strong results and fiscal performance continues to over-perform program targets.

Izvor: Beta

Tuesday, 07.03.2017.

09:31

Serbia's economic program delivering strong results - IMF

Serbia's economic program delivering strong results - IMF

"Growth picked up to 2.8 percent in 2016, with rising investment, exports, and employment," he said in a statement published on the IMF website.

"Fiscal performance continues to out-perform program targets. The general government deficit narrowed to 1.4 percent of GDP, the lowest level since 2005, and general government debt fell to 74 percent of GDP in 2016. Importantly, unemployment is on a firm declining trend, as are nonperforming loans in the banking sector," the statement said, adding:

"The near-term macroeconomic outlook is positive, with growth projected at 3 percent in 2017 and inflation expected to remain within the target band."

"However, risks remain and structural economic challenges persist. In this context, the mission stressed the need to fully implement the authorities’ reform agenda to cement hard-won macroeconomic gains, reduce fiscal risks from state-owned enterprises, further strengthen financial stability, and boost Serbia’s medium-term growth and employment," Roaf said.

A full mission for the 7th review under the new semi-annual review schedule is planned for May, Beta reported.

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