IMF "recognizes Serbia's good fiscal results"

IMF "recognizes Serbia's good fiscal results"

“It is evident what a success we have made,” Vucic said.

He said that Serbia will not just get a pass, but a high grade from the IMF for its efforts, work, commitment and results.

Vucic said that the IMF will on Monday come up with the estimate of Serbia's economic growth, which will from the initially forecasted minus one percent, then minus 0.5 percent go to zero percent.

However, the Serbian prime minister voiced confidence that Serbia would even manage to achieve a positive economic growth later in the year.

“I believe that in the coming years we will be one of the strongest economies in the region,” Vucic said.

Electricity price

The Serbian government and the IMF Mission discussed a pending increase in the price of electricity, but Prime Minister Aleksandar Vucic said that the talks on the matter will resume on Monday.

“Their demands remain the same, our intention to make things easier for our citizens also stays the same, so we will resume those talks,” Vucic said at a press conference after the meeting with the IMF Mission, which is on a visit to Belgrade as part of the first review of the three-year stand-by precautionary arrangement that was granted in February.

The increase in the electricity price as from April 1, together with the restructuring of the Electric Power Industry of Serbia (EPS), is one of the points of the agreement with the IMF.

When it comes to public enterprises, Vucic said that the issue of the country's biggest public enterprise is being tackled.

“EPS is a complex system, our largest system that is important for Serbia's development and gross domestic product,” Vucic said.

Noting that difficult reform steps still lie ahead, Vucic said that public enterprise Serbian Railways has embarked on the restructuring program, and voice the hope that all deadlines will be met.