Sitemap

IMF Confirms New Programme With Serbia

More...

Croatia’s Ruling Conservatives Win Parliamentary Election

The conservative Croatian Democratic Union (HDZ) party...

Biggest Portrait In The World Of Novak Djokovic

Architect and artist Andrej Josifovski, better known...

Macron Appoints Jean Castex As New Prime Minister Of France

French President Emmanuel Macron on Friday appointed...

Startup Ecosystem Of Belgrade And Novi Sad Worth 502 Million Dollars

The American organization Startup Genome has published...

News

Croatia’s Ruling Conservatives Win Parliamentary Election

The conservative Croatian Democratic Union (HDZ) party has consolidated its power in Croatia after winning 66 seats in the...

Biggest Portrait In The World Of Novak Djokovic

Architect and artist Andrej Josifovski, better known as the Pianist, made the largest portrait of Novak Djokovic in the...

Macron Appoints Jean Castex As New Prime Minister Of France

French President Emmanuel Macron on Friday appointed Jean Castex to replace Edouard Philippe as prime minister. French government resigned, just...

Startup Ecosystem Of Belgrade And Novi Sad Worth 502 Million Dollars

The American organization Startup Genome has published a new edition of its annual report, which estimates that the startup...

EIB Provides €30 Million To UniCredit Bank Serbia For Serbian SMEs

• The first impact finance loan for Serbian SMEs • This highly innovative EIB operation aims to support employment, sustainable...

The Ministry of Finance stated that the Board of Executive Directors of the International Monetary Fund (IMF) confirmed a new arrangement with the Republic of Serbia at the last week’s session in Washington, which will last 30 months, until January 2021.

The new cooperation programme with the support of the Policy Coordination Instrument (PCI) is exclusively advisory and does not foresee the use of financial resources.

Finance Minister Sinisa Mali estimated that the new arrangement with the IMF is very important because it shows that the Republic of Serbia in the previous period achieved good economic results and that it no longer needs financial assistance.

This is yet another step on our path to structural reforms and a good signal for investors. It is important to maintain macroeconomic and financial stability, to improve our economy, to increase competitiveness and to ensure high growth rates because it only means new jobs and a better standard of living for our citizens, Mali pointed out.

He emphasised that the main objectives of the programme are to maintain public debt in defined terms in relation to gross domestic product (GDP), maintaining the overall deficit in defined frames in relation to GDP, reforming the public sector salary system, continuing the Tax Administration reform and establishing measures for reduction of the processing time of VAT refunds, adoption of a new law on fees and maintenance of inflation in the defined frameworks.

We are fully committed to these goals and this will be our absolute priority in the coming period. It is important that we strengthen our institutions and make them even more efficient, and here I mean first and foremost to the modernisation of the Tax Administration, which is necessary, Mali concluded.

At the session in Washington, it was pointed out that the economic prospects of the Republic of Serbia remain stable.

PCI is a new instrument introduced by the IMF in 2017 in order to provide support to the Member States that are committed to reforms, but who do not need financial support from that international financial institution, the statement says.