Serbia in excellent shape, results better than planned - NBS

MARRAKESH - At the International Monetary Fund-World Bank Group annual meetings, high-ranking IMF officials congratulated Serbian representatives on robust implementation of a programme agreed with the IMF, the National Bank of Serbia said.

They also congratulated them on "good recovery from the last year’s energy shock, a strong rise in employment, record-high FX reserves and a sizeable inflow of FDIs."

"In the current situation, sound policies and buffers for unforeseen circumstances are essential, and this is something Serbia has become known for," the central bank said in a statement.

NBS Governor Jorgovanka Tabakovic and Serbian Finance Minister Sinisa Mali met with senior IMF and WB representatives in Marrakesh on Wednesday.

"The focus of the meeting with the IMF Deputy Managing Director, Mr Bo Li, and the Director of the European Department, Mr Alfred Kammer, was on the current global movements and macroeconomic challenges, as well as the policies implemented globally, in Europe and Serbia."

"Tabakovic reminded that in spite of numerous challenges stemming from the global market, the resilience of the Serbian economy was not only preserved but also additionally bolstered."

"From 2024, we expect growth to accelerate to a range between 3.0 pct and 4.0 pct and return to the pre-pandemic trajectory of around 4 pct annually," the NBS said.

“In the period ahead, we will continue to monitor and analyse in detail all movements and make the best decisions for Serbia. We will continue to act proactively and build all types of buffers, just like we did in the period of strongest global challenges.

Serbia’s future progress remains an important joint task for all policymakers, and so does the award of the highest investment grade for Serbia, which we deserve,” Tabakovic was quoted as saying.