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The Government of the Republic of Serbia

In the service of citizens

Maintaining economic stability, continuing reforms set as priorities

Belgrade, 31 October 2022

Prime Minister Ana Brnabic spoke today with a delegation of the International Monetary Fund (IMF), Head of the Mission Jan Kees Martijn, about the current macroeconomic trends in Serbia and the world, priorities for the next period in various sectors , as well as about the future standby arrangement with that financial institution.

Brnabic pointed out that the most important thing is for Serbia to maintain its hard-earned fiscal stability, as well as to continue with the reforms that have started, and in this sense, the future standby arrangement with the IMF, which is being negotiated during their current visit, is important.

The officials also discussed the energy sector, and the Prime Minister emphasized that the government has three priorities: diversification of supply sources, construction of new capacities, as well as energy efficiency.

Speaking about the new government's priorities, she said that it will be further economic growth based on education, knowledge and services, continued investments in IT, biotechnology and artificial intelligence, as well as work on the digitisation of the health care system and the energy sector.

Martejn assessed that until now Serbia has shown the resilience of its economy in relation to the unstable events in Europe and the world and that it is important to continue making the so-called buffers, so that the country is ready for possible shocks.

According to him, it is important to maintain a strict monetary and fiscal policy, primarily because of inflation, whereby the fiscal policy should follow a strict monetary policy.

He pointed out that the IMF wants to support Serbia in this and that is why the new standby arrangement is important, adding that it is an important program on which both sides would agree.

Martejn praised the fact that there is still a high level of foreign direct investment in Serbia, and Brnabic noted that large public investments in capital projects continue.

The Prime Minister emphasized that innovative ways to increase the productivity of the economy, such as dual education and innovation, are important, adding that investors are not giving up on investing in Serbia and that, in this sense, there will be more good news.

The meeting in the government of Serbia was also attended by Deputy Prime Minister and Minister of Finance Sinisa Mali and Minister of Mining and Energy Dubravka Djedovic.