Mali: Serbia on right track, we are watching global developments closely

BELGRADE - Serbian Deputy PM and Finance Minister Sinisa Mali met on Friday with an International Monetary Fund (IMF) delegation headed by Donal McGettigan to discuss all outstanding issues and the IMF's interest in important economic matters for Serbia.

In a statement, the Finance Ministry said Mali and McGettigan had met for a second time since the arrival of the IMF delegation, which will be in Serbia until October 31 as part of a second review under an approx. 2.4 bln euro, two-year standby arrangement approved to Serbia by the IMF late last year.

It said the parties had also discussed a pension increase planned for January 2024, the newly-adopted 2024 budget, the level of public debt, the tax administration, the energy sector, the Iskra centralised payroll system for public sector employees and the legislation required for implementing further reforms.

"We are watching closely all global developments that have economic consequences and we are acting accordingly, and we are on the right track," Mali said at the meeting, held at the ministry.

Mali said he expected Serbia to have even better economic results next year and noted that it continued to build infrastructure, motorways and rail lines as well as accompanying infrastructure for EXPO 2027, but without room for breaching deadlines, delays or inefficiency.

"We want to avoid all situations that would prolong any phase of the implementation of this project, which is of great importance for Serbia," Mali said.

When asked about public debt projections for the years to come, Mali said the figures were encouraging and that Serbia kept the public debt under control without halting its reforms and development in spite of the crisis.

"We are liquid, I am pleased with the performance and the way we are managing the public debt," he noted.

McGettigan said it was good the new Serbian budget had already been adopted and once again commended the Iskra system as well as a directive on management of capital projects and advanced monitoring of fiscal risks.

He noted that he expected Serbia to strongly continue a reform of its energy sector.