Mali begins discussions with IMF mission

BELGRADE - Serbian Deputy PM and Finance Minister Sinisa Mali on Thursday began discussions with an International Monetary Fund (IMF) mission as part of the first review of Serbia's current standby arrangement with the IMF.

The IMF mission, headed by Donal McGettigan, will be in Belgrade until April 4.

Mali said Serbia's public finances were stable and that Q1 2023 had ended with positive indicators.

He said the Serbian economy had continued to grow despite all challenges and that the public debt was fully under control.

Recapping last year and Q1 2023, Mali said Serbia had registered a record-high FDI inflow and its lowest-ever unemployment rate.

McGettigan commended the efforts of the Serbian government and the Finance Ministry, as well as everything that had been done to maintain the stability of public finances.

Mali and McGettigan also discussed the situation in the energy sector, and the minister pointed out that much had been done over the past several months and that major investments in the sector were ahead of Serbia in the years to come.

In addition, work is underway on a plan for a strategic restructuring of the national power company EPS to keep it from being a fiscal risk to the budget in the coming years, Mali said.

He said Serbia was on the right track when it comes to objectives in the energy sector under the current arrangement.