Finance Minister Siniša Mali, in his technical mandate, met with the IMF’s permanent representative in Serbia, Lev Ratnovski, to discuss current global developments. One of the key topics of their discussion was the progress of major capital projects in Serbia.
Mali emphasized that the agreement with the International Monetary Fund (IMF) serves as a guarantee for the continuation of reforms in the country, further enhancing the economic environment and improving the quality of life for citizens. He noted, “We discussed economic trends in our country, macroeconomic indicators, the expected economic growth for this year, and plans for the future. Additionally, we touched upon our current non-financial arrangement with the IMF, under the Policy Coordination Instrument (PCI), and the progress in meeting the goals outlined by it,” Mali wrote on Instagram, according to RTV.
As Biznis.rs previously reported, Finance Minister Siniša Mali highlighted that with the approval of the Policy Coordination Instrument (PCI), Serbia has committed to ensuring that the fiscal deficit in 2025 will not exceed three percent of GDP. This will provide room for continued large capital investments while maintaining the stability of public finances.
The “ceiling” on the fiscal deficit is just one of the commitments made by Serbia. The IMF, in its statement following the conclusion of the stand-by arrangement and the approval of the PCI, noted that the new program will help achieve a balance between fiscal discipline and priority expenditures, including public investments. According to the PCI, Serbia’s fiscal policy for the next three years will be based on a fiscal deficit of no more than three percent of GDP from 2025 to 2027, and 2.5 percent of GDP in 2028 and 2029.
