Serbia and Montenegro: Staff Report for the 2005 Article IV Consultation
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Summary:
This 2005 Article IV Consultation highlights that macroeconomic imbalances in Serbia and Montenegro widened in 2004, putting at risk some of the impressive earlier achievements. Growth, about 5 percent in nonagriculture since 2002, has been fueled by a surge in domestic demand. Lack of competitive domestic production has led to increased imports and a widening current account deficit. The main policy challenge is to maintain macroeconomic stability while accelerating structural reform. Fiscal policy needs to be tightened substantially, and its flexibility increased by reducing the large share of nondiscretionary spending.
Series:
Country Report No. 2005/233
Subject:
Balance of payments Credit Current account deficits Expenditure External debt Fiscal policy Inflation Prices
English
Publication Date:
July 14, 2005
ISBN/ISSN:
9781451833577/1934-7685
Stock No:
1SCGEA2005003
Pages:
165
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