Republic of Serbia: 2017 Article IV Consultation, Seventh Review Under the Stand-by Arrangement and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Serbia

September 6, 2017

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Format: Chicago

Republic of Serbia: 2017 Article IV Consultation, Seventh Review Under the Stand-by Arrangement and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for the Republic of Serbia, (USA: International Monetary Fund, 2017) accessed September 19, 2024

Summary

This 2017 Article IV Consultation highlights that Serbia’s economy has strengthened impressively since the adoption of the economic program supported by the Stand-By Arrangement. Economic growth is expected to reach 3 percent in 2017. The fiscal deficit should narrow to 1.1 percent of GDP—the lowest level since 2005—and public debt is heading down faster than projected. Contrary to expectations, the larger than planned fiscal tightening has been associated with increased growth, reflecting the confidence engendered by decisively tackling the public debt sustainability concerns. Moreover, unemployment is falling sharply, along with the level of banks’ nonperforming loans, while inflation has been maintained at low levels.

Subject: Economic and financial statistics, Exchange rates, Expenditure, External debt, Fiscal policy, Government finance statistics, Public debt

Keywords: CR, Deficit target, Europe, Exchange rate, Expenditure contraction, Global, Government finance statistics, Investment level, Investment sentiment, ISCR, Labor market, Monetary policy stance, Policy action, Reform, Regime, Sector, WB portfolio

Publication Details

Pages:

148
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/263
Stock No:

1SRBEA2017001
ISBN:

9781484317327
ISSN:

1934-7685

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