Vucevic: Serbia continues significant economic reforms

BELGRADE - Serbia continues significant economic reforms that will enable macroeconomic stability in the country, Serbian PM Milos Vucevic said on Tuesday at a meeting with an International Monetary Fund (IMF) delegation led by Mission Head Donal McGettigan.

The delegation is in Belgrade for a fourth - and final - review under Serbia's current standby arrangement with the IMF.

Vucevic said a new arrangement, to be based on continued capital investment and a responsible fiscal policy, would confirm an agreement on keeping Serbia's budget deficit at 3 pct, the Serbian government said in a statement.

McGettigan noted that Serbia had successfully carried out reforms under the current arrangement, and highlighted the significance of further focus on reforms in key areas such as fiscal stability, investment in infrastructure and improvement of the business environment.

He explained that a new three-year arrangement would include various economic reforms and fiscal measures aimed at stabilising the economy and reducing the budget deficit as well as at structural reforms and measures to improve public finances.

Vucevic said the new arrangement with the IMF was an important step in strengthening Serbia's cooperation with the EU and other international partners and represented a definite advancement of economic and political stability in the country.