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IMF commends Serbia’s economic resilience amid global shocks: Plans for sustainable growth and fiscal prudence

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Donald McGettigan, the Head of Mission of the International Monetary Fund (IMF), recently praised the resilience of the Serbian economy, noting its ability to withstand recent global shocks impressively. Speaking about the upcoming Expo 2027 plans, McGettigen highlighted Serbia’s significant public investments coinciding with a reduction in public debt. He attributed decreasing inflation to the firm policies of the National Bank of Serbia.

McGettigen announced that IMF discussions with the National Bank of Serbia and the Government of Serbia will commence tomorrow regarding the third revision of the arrangement with the Fund. Topics will include budget expenditures for capital investments and reforms in state enterprises such as EPS and Srbijagas.

He emphasized the importance for Serbia to maintain macroeconomic stability and sustainable growth while tackling deeper strategic issues. McGettigen praised Serbia’s large and resilient foreign direct investments, attributing this success to solid macroeconomic policies, stability, and Serbia’s strategic geographic position.

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Regarding public investments, McGettigen expressed confidence that they are compatible with Serbia’s public debt situation, provided they are managed effectively and adhere to fiscal rules. He stressed the need for careful selection and management of these investments to further strengthen public finances and infrastructure.

Regarding monetary policy, McGettigen acknowledged decreasing inflation but advocated for continued vigilance before considering interest rate reductions. He highlighted the importance of monitoring inflationary expectations and broader economic indicators to ensure sustained inflation reduction before implementing any rate cuts.

In summary, McGettigen’s statements reflect a positive outlook on Serbia’s economic resilience, emphasizing the need for continued prudent fiscal and monetary policies to sustain growth and stability.

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