IMF: Results visible, reforms need to continue

Serbian Prime Minister Ana Brnabic and the IMF delegation fronted by the head of the mission, James Roaf, agreed on Wednesday (May 16, 2018) that reforms in the previous three years have produced good results, making it important to continue with structural reforms in 2019, thereby securing a further growth of the GDP.

As said on the website of the Government of Serbia, the International Monetary Fund (IMF) is satisfied with the trend in the Serbian economy and the fact that there is a high degree of agreement with the Government of Serbia when it comes to reforms that need to be carried out in the upcoming period.

Brnabic pointed out during the talks that the first quarter had been remarkably successful and added that the government continued to work at the same pace and that there was not time to relax, so that the targeted results would be achieved in the current year.

She pointed to the fact that plans for 2019 were also discussed, as the government's aim is to achieve a sustainable and dynamic economic growth.

Brnabic and Roaf also discussed the raising of salaries and pensions. The prime minister emphasized that the amount of the new raise would be considered in line with the growth of the GDP and the economic results achieved.

During the talks, special emphasis was placed on job mapping and determining of grade levels, which the Ministry of Public Administration and Local Self-Government is working on.

Roaf pointed out that a new system of salaries was a very important reform for the IMF and that the Government of Serbia had their full support to that end, as well as that the realization of this job required full cooperation and information sharing between all the relevant institutions.

Brnabic promised that this would be carried out at the maximum possible pace and that the focus a the time was on completing the job mapping and defining of grade levels, for which the said ministry has already prepared a draft law.

The importance of public investments, the securing of fiscal stability, reforms of public companies and tax policy were also discussed at the meeting, it is said.

Vlada Republike Srbije

Međunarodni monetarni fond - MMF Beograd

Ministarstvo državne uprave i lokalne samouprave Republike Srbije

Ana Brnabic

James Roaf

raising salaries

raising pensions

GDP growth

GDP of Serbia

grade levels

reforms in Serbia

reform of public companies

public investments

fiscal stability

fiscal policy