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The Government of the Republic of Serbia

In the service of citizens

Successful completion of third review of stand-by arrangement with IMF

Belgrade, 8 July 2024

First Deputy Prime Minister and Minister of Finance Siniša Mali said today that the decision of the Board of Executive Directors of the International Monetary Fund (IMF) in Washington on the successful completion of the third review of the stand-by arrangement with Serbia is another confirmation that the economy of our country is strong and stable and that the reforms we are implementing are correct.

Mali pointed out that the correctness of our economic policy is continuously confirmed by renowned international financial institutions, such as the IMF, adding that in the first quarter of this year, Serbia was the fastest growing economy in Europe with a growth of 4.7 percent of GDP.

All our macroeconomic indicators are good. In addition to growing the fastest in Europe, our public debt is fully under control, far below the Maastricht level, he said, adding that the unemployment rate is at a record low level of 9.4 percent in the first quarter of this year, while employment is at a record high and stands at 50.9 percent.

The First Deputy Prime Minister pointed out that foreign direct investment is at a record high level, stressing that the quality of life of Serbian citizens continues to improve through constant increases in their income, i.e. through the growth of wages, pensions and minimum wages.

Although Serbia has at its disposal the withdrawal of another €400 million after the successful third revision of the stand-by arrangement, these funds will not be used, which is another indicator of the stability of Serbian finances.