IMF mission to visit Serbia on August 20-30

Serbian Finance Minister Dusan Vujovic said Thursday that an International Monetary Fund (IMF) mission will visit Serbia on August 20-30.

Source: Tanjug

Vujovic told a press conference at the Serbian government that the statistical processing of the budget data will be completed in a few days, and all other elements of financial indicators for the first half of the year are expected to be processed by July 15.

He added that "everything will be ready for the second review of Serbia's three-year precautionary stand-by arrangement reached with the IMF in February."

“We will have everything ready by the end of July and we expect no major issues, although we have faced more difficulties than planned,” said Vujovic.

Everybody agrees in principle that the reforms are necessary, but problems occur when measures, such as those aimed to improve efficiency, are to be implemented, he noted.

The minister said that the public enterprise Serbian Railways (Zeleznice Srbije) will have to operate more efficiently, and that the Electric Power Industry of Serbia (EPS) will have to cut its technical losses, which now stand at 16 percent compared to around 5% in the EU.

I realize that the equipment is old and that it generates more losses and consequently, higher costs, added Vujovic.

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