This paper discusses Republic of Serbia's 2019 Article IV Consultation and Second Review Under the Policy Coordination Instrument. Serbia's macroeconomic performance, supported by the Policy Coordination Instrument, has been strong. Growth has been robust, public debt is declining, employment is...

Recent economic developments. The program is broadly on track and the economy is growing strongly, supported by private consumption, investment, and exports. Fiscal performance remains sound, modernization of the tax administration has accelerated, and public debt has fallen sharply. Inflation...

This paper discusses the Republic of Serbia's Third Review Under the Policy Coordination Instrument (PCI). Serbia is the second IMF member country to request a PCI and aims to maintain macroeconomic and financial stability, while advancing an ambitious reform agenda to foster rapid growth, job...

This paper discusses Serbia's Fourth and Fifth Reviews Under the Stand-By Arrangement and Rephasing of the Arrangement. The program is delivering good results, particularly in achieving key macroeconomic objectives. Significant fiscal tightening and efforts to address structural weaknesses have...

The program remains on track and the economy continues to strengthen. Significant fiscal over-performance and renewed efforts to address structural weaknesses have helped boost confidence. This, along with a healthy credit recovery on the back of substantial monetary policy easing, has helped...

This paper discusses Serbia's Eighth Review Under the Stand-By Arrangement. Notwithstanding some temporary supply shocks, economic activity remains robust, supported by recovery of private consumption and strong foreign direct investment. Significant fiscal over-performance has continued and...

Serbia succeeded in addressing macroeconomic imbalances and restoring confidence and growth under the precautionary SBA which expired in February 2018. Fiscal sustainability has been restored by placing public debt on a firm downward path and the external position has been realigned with...