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New precautionary arrangement with IMF needed to continue reforms in Serbia-Kalanovic

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Deputy Prime Minister for Economic and Regional Development Verica Kalanovic and Head of the International Monetary Fund (IMF) Mission Albert Jaeger said yesterday that there is a need for a new precautionary arrangement between Serbia and the IMF in order to continue reforms in the country.

The new arrangement means that two components – fiscal responsibility and infrastructure projects – should improve the investment climate.

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The meeting also discussed the models of management of projects to be funded from the capital part of the budget.

Kalanovic and Jaeger agreed that a small percentage of the budget today is spent on infrastructure projects that contribute to increased investment and that the new model would increase the funds spent on infrastructure.


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