Republic of Serbia: First Review under the Policy Coordination Instrument-Press Release; and Staff Report

December 19, 2018

Preview Citation

Format: Chicago

Republic of Serbia: First Review under the Policy Coordination Instrument-Press Release; and Staff Report, (USA: International Monetary Fund, 2018) accessed December 22, 2024

Summary

Recent economic developments. The program is broadly on track and the economy is growing strongly, supported by private consumption, investment, and exports. Fiscal performance remains sound, modernization of the tax administration has accelerated, and public debt has fallen sharply. Inflation remains below the mid-point of the NBS inflation band, while the NBS has kept rates on hold since April. Both credit and private sector wage growth are strengthening. Program performance. Quantitative targets (QTs) for end-September 2018 were met, apart from a minor deviation on the QT for domestic arrears. Most reform targets (RTs) have been implemented, albeit some with delays. Staff recommends completion of the first review under the Policy Coordination Instrument and modification of QTs for end-March and an establishment of end-September 2019 QTs.

Subject: Banking, Exchange rates, Expenditure, Foreign exchange, Labor, National accounts, Pension spending, Pensions, Public debt

Keywords: Appreciation pressure, CR, Europe, Exchange rates, FX-indexed loan, Global, Growth, Headline inflation, Inflation band, ISCR, NBS FX intervention, NBS target, Pension spending, Pensions, Private sector wage, Program implementation, Sector

Publication Details

Pages:

62
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/375
Stock No:

1SRBEA2018002
ISBN:

9781484391662
ISSN:

1934-7685

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