Serbia's economy has strengthened over the past three years but the government must accelerate privatisation of poorly managed state firms and cut a bloated public sector to achieve sustainable growth, the IMF said on Wednesday.
The head of the IMF mission to Serbia, James Roaf, said Belgrade had been successful in implementing fiscal consolidation measures after it clinched a 1.2 billion euro loan deal with the Fund two years ago.
The International Monetary Fund has cut its forecast for Serbia's 2017 budget deficit to 1.1 percent of gross domestic product from 1.7 percent, Roaf told a news conference.
Public debt is also falling "faster than originally expected", Roaf added, down to 68.1 percent of national output in June from 74 percent at the end of last year.
Meanwhile ...
Another IMF Deal Isn't a Sure Thing for Serbia, Serbian Premier Ana Brnabic said in an interview to Bloomberg.
When asked if the country of 7.1 million may forgo renewing the three-year precautionary deal, during which International Monetary Fund officials have recommended measures including cutting spending, selling or shutting down unprofitable state companies, and reducing the public workforce, she said its possible.
