IMF, public companies meet in Belgrade

The talks between the IMF delegation and the Serbian government on the sixth review under the stand-by arrangement continue today.

Izvor: Tanjug

Thursday, 28.10.2010.

11:37

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The talks between the IMF delegation and the Serbian government on the sixth review under the stand-by arrangement continue today. The meetings continue on a technical expert level, with representatives of Serbia's public companies. IMF, public companies meet in Belgrade Serbian Prime Minister Mirko Cvetkovic on Wednesday expressed his expectation that basic macroeconomic parameters of the 2011 budget will be agreed during the IMF delegation's stay in Belgrade and that the government will subsequently discuss in detail the Bill on the 2011 budget. The basic premise of the next year's budget will be reduction of the deficit down to four percent, with an expected reduction of mobile telephony tax revenues and a lower influx due to the implementation of the Provisional Trade Agreement with the European Union, Cvetkovic said at a presentation of the White Book, released by the Foreign Investors Council, adding that, the revenues, however, will be compensated with a higher growth rate of the gross domestic product (GDP) and by reducing inflation According to the IMF announcements, the IMF Board of Directors is scheduled to meet in Washington on December 22 to decide whether the sixth review of the stand-by arrangement with Serbia was successful. The IMF mission arrived in Belgrade on October 21 to discuss the sixth review under the stand-by arrangement with Serbia and is scheduled to stay until November 2. Under the arrangement signed with the IMF in May 2009, Serbia was granted a loan worth EUR 2.87bn for strengthening of its foreign exchange reserves. The country has so far used about EUR 1.45bn.

IMF, public companies meet in Belgrade

Serbian Prime Minister Mirko Cvetković on Wednesday expressed his expectation that basic macroeconomic parameters of the 2011 budget will be agreed during the IMF delegation's stay in Belgrade and that the government will subsequently discuss in detail the Bill on the 2011 budget.

The basic premise of the next year's budget will be reduction of the deficit down to four percent, with an expected reduction of mobile telephony tax revenues and a lower influx due to the implementation of the Provisional Trade Agreement with the European Union, Cvetkovic said at a presentation of the White Book, released by the Foreign Investors Council, adding that, the revenues, however, will be compensated with a higher growth rate of the gross domestic product (GDP) and by reducing inflation

According to the IMF announcements, the IMF Board of Directors is scheduled to meet in Washington on December 22 to decide whether the sixth review of the stand-by arrangement with Serbia was successful.

The IMF mission arrived in Belgrade on October 21 to discuss the sixth review under the stand-by arrangement with Serbia and is scheduled to stay until November 2.

Under the arrangement signed with the IMF in May 2009, Serbia was granted a loan worth EUR 2.87bn for strengthening of its foreign exchange reserves. The country has so far used about EUR 1.45bn.

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