Republic of Serbia: 2021 Article IV Consultation and Request for a 30-Month Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Republic of Serbia
June 21, 2021
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Recent economic developments. Supported by a large policy package, Serbia’s economy rebounded quickly from the initial COVID-19 shock, recording a 1 percent contraction of real GDP in 2020. Job losses have mostly been contained to the informal sector, thanks to policy measures aimed at preserving formal employment. A supplementary budget for 2021 was adopted in April boosting capital expenditure and extending policy support to households and corporates, against the background of third and fourth waves of infections and related containment measures, as well as a weaker-than-expected economic recovery in key trading partners. Inflation remains low. After rising again in late February, infections tapered, helped by new containment measures and the rapid vaccine rollout.
Subject: COVID-19, Economic and financial statistics, Exchange rates, Financial institutions, Foreign exchange, Government finance statistics, Health, International organization, Loans, Monetary policy, Public debt
Keywords: COVID-19, Europe, Exchange rates, GDP data, Global, Government finance statistics, inflation expectation, Loans, pension indexation rule, policy buffer, production method, public debt level, reform momentum, SOE reform, support package
Pages:
107
Volume:
2021
DOI:
Issue:
132
Series:
Country Report No. 2021/132
Stock No:
1SRBEA2021002
ISBN:
9781513583181
ISSN:
1934-7685
