IMF: Serbia on right track to meeting all objectives, commitments

BELGRADE - Serbian Deputy PM and Finance Minister Sinisa Mali met on Monday with an International Monetary Fund mission headed by Donal McGettigan, who noted that Serbia was on the right track to meeting all objectives and commitments under its current arrangement with the IMF.

McGettigan said discussions about Serbia's budget had been very successful and completed in a very short period of time and that all structural objectives set in the programme to date had been met.

The mission's visit to Serbia as part of a second review of a standby arrangement approved last December began on October 19 and concludes on October 31.

McGettigan said Serbia was making evident progress and commended the introduction of a centralised payroll system for all public sector employees.

Mali presented Serbia's economic results to date and the progress of agreed reforms.

He told the IMF delegation the 2024 budget bill was ready and that a parliamentary debate on it would begin during the day.

"There are no surprises in the budget, we are on the path of the policy we have been pursuing so far," Mali said at the meeting, held at the Finance Ministry.

He also noted his recent meeting with IMF Deputy Managing Director Bo Li in Marrakesh had been good and that Serbia's economic performance had also been presented during his visit to Morocco.

"We are liquid and on a good path, we are meeting all our obligations regularly. Energy and restructuring of EPS remain crucial in further reforms, but we are also reforming the tax administration and complying with all fiscal rules. The effects of everything we have done are enormous," Mali said, adding that the two-year, 2.4 bln euro precautionary arrangement with the IMF was good for Serbia and that the country was doing well when it comes to dealing with the impact of the global crisis.