IMF mission head James Roaf said on Tuesday, during his meeting with President Aleksandar Vucic, that the fiscal results of Serbia’s budget were “excellent.”
“All indicators are pointing to a stable trend of growth of the Serbian economy, as shown by a large surplus achieved in the first six months of this year,” Roaf said at the meeting, also attended by Prime Minister Ana Brnabic and Finance Minister Dusan Vujovic, Tanjug reported.
Roaf on Tuesday commended the results achieved by Serbia and the state of its budget, noting that continuing the reform process – in particular in the public administration sector, where results are below expectations – was crucial.
Speaking during a meeting at the Serbian National Assembly’s Committee on Finance, Roaf said it was vital for Serbia to continue the reform process, public administration reform in particular, as it had left much to be desired, Beta reported.
The IMF official said he was satisfied with the results, and the budget situation, the agency quoted a statement from the Assembly.
“The National Bank of Serbia maintains a stable exchange rate, and Serbia’s economic growth rate was higher than expected,” Roaf said and added that Serbia had much more to do to maintain the positive trends.
“A stronger private sector, and a higher employment rate in the private sector to boost the budget, are of key importance,” he said.
The public enterprise reform, the effects of public spending control, opportunities to reduce salary taxes and other high taxation rates, and room for a pay and pension raise were also discussed at the meeting.