Republic of Serbia: Request for a 30-Month Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Serbia

July 24, 2018

Preview Citation

Format: Chicago

Republic of Serbia: Request for a 30-Month Policy Coordination Instrument-Press Release; Staff Report; and Statement by the Executive Director for Serbia, (USA: International Monetary Fund, 2018) accessed November 21, 2024

Summary

Serbia succeeded in addressing macroeconomic imbalances and restoring confidence and growth under the precautionary SBA which expired in February 2018. Fiscal sustainability has been restored by placing public debt on a firm downward path and the external position has been realigned with fundamentals. Monetary policy has kept inflation under firm control, while supporting economic recovery. The resilience of the financial sector has improved. Progress has also been made on structural and institutional reforms, including in rationalizing the size of public sector employment, addressing fiscal risks from SOEs, and improving the business environment. However, challenges remain for achieving robust, inclusive, and sustainable growth, which Serbia needs for faster income convergence with its EU peers. The authorities requested a 30-month Policy Coordination Instrument (PCI) to provide a framework for continued macroeconomic stability and reforms, and maintain close policy dialogue with staff.

Subject: Banking, Economic sectors, Exchange rates, External debt, Foreign exchange, Informal economy, Public debt

Keywords: CR, Exchange rates, Global, Headline inflation, Inflation expectation, Informal economy, ISCR, Living standard, Monetary policy stance, Monetary policy transmission, Priority, Reform agenda

Publication Details

Pages:

84
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/237
Stock No:

1SRBEA2018001
ISBN:

9781484370490
ISSN:

1934-7685

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