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The Government of the Republic of Serbia

In the service of citizens

New arrangement with IMF clear signal to investors

Belgrade, 16 October 2024

First Deputy Prime Minister and Minister of Finance Siniša Mali announced today that the delegation of the International Monetary Fund (IMF) completed the fourth and final review under the ongoing stand-by arrangement between Serbia and the financial institution.

Concurrently, an agreement was reached on a new Policy Coordination Instrument (PCI), which will be a non-financing arrangement that will last until the end of 2027.

After intensive talks with the representatives of the IMF in the past two weeks, the last review under the current arrangement was completed, and the representatives of the mission praised Serbia’s economic growth and high employment, inflation that continues to decrease, and public debt that is under control, he said.

According to him, the new arrangement is a clear signal to investors, who are coming to our country in increasing numbers, that Serbia is committed to accelerated growth, development and modernisation, while preserving macroeconomic stability.

He specified that Serbia has committed to adopt a budget that projects a fiscal deficit of no more than 3% of GDP in 2025 during talks with the mission.

Also, as he added, the new arrangement envisages that Serbia will determine and publish a comprehensive analysis of its pension system, and that an analysis of the structure of wages and employment at general government institutions that are included in the ISKRA register will be carried out, with a report to be produced accordingly.