Republic of Serbia: Fourth Review under the Policy Coordination Instrument-Press Release and Staff Report
August 28, 2020
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Recent economic developments. Notwithstanding a sizeable policy response, the COVID-19 pandemic is having a significant adverse impact on Serbia’s economic activity, with output in 2020 projected to contract by 3 percent, compared to a 4 percent increase expected prior to the COVID-19 shock. The shock is affecting the economy through lower external demand, weaker foreign direct investment and remittances, disruptions in regional and global supply chains, and domestic supply constraints. The government took strong actions to contain the pandemic at an early stage, but the number of infections accelerated again towards end-June. As a result, some containment measures have been re-introduced.
Subject: COVID-19, Exchange rates, External debt, Financial institutions, Fiscal risks, Foreign exchange, Health, Loans, Public debt, Public financial management (PFM)
Keywords: authority, containment measure, COVID-19, CR, economy, Europe, Exchange rates, Fiscal risks, Global, ISCR, limit balance sheet risk, Loans, policy package, policy priority, state aid, tax authority, Western Europe
Pages:
100
Volume:
2020
DOI:
Issue:
270
Series:
Country Report No. 2020/270
Stock No:
1SRBEA2020001
ISBN:
9781513555874
ISSN:
1934-7685
