KEY ISSUES Recent economic developments. The economy is slowly emerging from the 2014 recession, benefiting from low oil prices and the euro area recovery, which have helped to contain the short-term effects of fiscal consolidation. However, growth is only expected to return in 2016....

This paper discusses Serbia’s Second Review Under the Stand-by Arrangement (SBA) and Request for Waivers of Applicability of Performance Criteria (PCs). The economy of Serbia is gradually recovering from the 2014 recession, supported by strong export performance coupled with a...