International Monetary Fund (IMF) Resident Representative in Serbia Bogdan Lissovolik warned that Serbia’s public debt may exceed the envisaged limit.
The envisaged limit is 45 percent of the GDP.
He said on Saturday that this was why it was necessary to adopt measures in due course to prevent that from happening.
“The business risks in Serbia have increased, and if financial tensions in the eurozone continue, there is great likelihood that Serbia’s economic growth will be reviewed downwards,” Lissovolik stated, recalling that a 1.5 percent GDP growth was planned for 2012.
At the conference dubbed “Serbia’s economy in the second wave of the crisis – the 2012 forecast”, the IMF representative said that Serbia should pay more attention to the private sector, which should be the backbone of the country’s development.
He reiterated that the state should increase the efficiency of the courts and administration.
Lissovolik pointed out that the precaution arrangement with the IMF was only one part of Serbia’s protection mechanism from what is happening in Europe, and that the country needs to do a lot more in that respect, noting at the same time that, in the medium term, he was optimistic about Serbia.
Source b92.net
