IMF rep: Serbia needs fiscal consolidation, reforms
International Monetary Fund (IMF) Permanent Representative in Serbia Bogdan Lissovolik said Friday that Serbia had to implement fiscal consolidation measures.
Saturday, 02.06.2012.
12:35
International Monetary Fund (IMF) Permanent Representative in Serbia Bogdan Lissovolik said Friday that Serbia had to implement fiscal consolidation measures. According to him, the measures are especially needed in public spending. IMF rep: Serbia needs fiscal consolidation, reforms Lissovolik added that Serbia also needed structural reforms. Speaking at the First Summit of Chief Financial Officers in Serbia, Lissovolik stressed that developing countries with high external deficits, such as Serbia, needed to reduce expenditures and increase exports. He said that Serbia still had a problem of a large external deficit and, although it had been successful in reducing it since 2008, the balance of payments deficit in 2011 was just below the level of 10 percent of the gross domestic product. “Structural reforms imply creating conditions for attracting foreign direct investment, primarily in manufacturing and export-oriented sectors,” said Lissovolik. The First CFO Summit in Serbia took place in the town of Arandjelovac. Tanjug
IMF rep: Serbia needs fiscal consolidation, reforms
Lissovolik added that Serbia also needed structural reforms.Speaking at the First Summit of Chief Financial Officers in Serbia, Lissovolik stressed that developing countries with high external deficits, such as Serbia, needed to reduce expenditures and increase exports.
He said that Serbia still had a problem of a large external deficit and, although it had been successful in reducing it since 2008, the balance of payments deficit in 2011 was just below the level of 10 percent of the gross domestic product.
“Structural reforms imply creating conditions for attracting foreign direct investment, primarily in manufacturing and export-oriented sectors,” said Lissovolik.
The First CFO Summit in Serbia took place in the town of Aranđelovac.
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