IMF mission to hold talks with Serbian govt.

An International Monetary Fund (IMF) delegation will arrive in Belgrade on Thursday, the IMF Resident Representative Office in Belgrade confirmed for Tanjug. The talks between the representatives of the IMF mission and the Serbian government should clarify all dilemmas about the precautionary arrangement and the budget for 2012. IMF mission to hold talks with Serbian govt. IMF Resident Representative in Belgrade Bogdan Lissovolik said earlier this week that the IMF mission would discuss with Serbian government representatives ways to correct deviations from the agreed level of budget guarantees and state debt in 2012, observing that Serbia had very little room to amend the agreed policy, and if it wanted to pursue sustainable growth, it could be a great problem. Lissovolik told a conference entitled "Financing Growth in Serbia" that the planned state debts in the 2012 budget exceeded the target level of gross domestic product (GDP) by one percent, at about EUR 300mn (about RSD 30bn). Recalling the completion of the first review under the precautionary SBA in late December, Lissovolik said that it was supposed to be evaluated in January, but added that it had been postponed because the government had not followed the part of the agreement related to the projected level of public debt, which should not exceed 45 percent of the GDP, and the agreed budget deficit had also been breached. Announcing the IMF delegation's visit, Finance Ministry State Secretary Dusan Nikezic said that the talks with the IMF should clear all doubts regarding relevant details of the precautionary arrangement and the 2012 budget. Nikezic said that the key parameters of the 2012 budget that had been agreed with the IMF, such as a budget deficit target of 4.25 percent of GDP, amount of public debt, total revenues and state expenditures had all been honored. (Beta, file) Tanjug

IMF mission to hold talks with Serbian govt.

IMF Resident Representative in Belgrade Bogdan Lissovolik said earlier this week that the IMF mission would discuss with Serbian government representatives ways to correct deviations from the agreed level of budget guarantees and state debt in 2012, observing that Serbia had very little room to amend the agreed policy, and if it wanted to pursue sustainable growth, it could be a great problem.

Lissovolik told a conference entitled "Financing Growth in Serbia" that the planned state debts in the 2012 budget exceeded the target level of gross domestic product (GDP) by one percent, at about EUR 300mn (about RSD 30bn).

Recalling the completion of the first review under the precautionary SBA in late December, Lissovolik said that it was supposed to be evaluated in January, but added that it had been postponed because the government had not followed the part of the agreement related to the projected level of public debt, which should not exceed 45 percent of the GDP, and the agreed budget deficit had also been breached.

Announcing the IMF delegation's visit, Finance Ministry State Secretary Dušan Nikezić said that the talks with the IMF should clear all doubts regarding relevant details of the precautionary arrangement and the 2012 budget.

Nikezić said that the key parameters of the 2012 budget that had been agreed with the IMF, such as a budget deficit target of 4.25 percent of GDP, amount of public debt, total revenues and state expenditures had all been honored.