Serbia and Montenegro: Staff Report for the 2005 Article IV Consultation

July 14, 2005

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Serbia and Montenegro: Staff Report for the 2005 Article IV Consultation, (USA: International Monetary Fund, 2005) accessed November 22, 2024

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.

Subject: Balance of payments, Credit, Current account deficits, Expenditure, External debt, Fiscal policy, Inflation, Prices

Keywords: Authorities of Serbia and Montenegro, CR, Current account deficits, Deficit, Enterprise, Enterprise restructuring, Envisaged policy package, Exchange rate depreciation, Global, Government, Inflation, ISCR, Privatization revenue, Revenue collection

Publication Details

Pages:

165
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2005/233
Stock No:

1SCGEA2005003
ISBN:

9781451833577
ISSN:

1934-7685

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