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IMF: Serbia's GDP Growth Higher than Predicted this Year, Pension Indexing as of 2020

Oct 2018 | Source: BETA
IMF: Serbia's GDP Growth Higher than Predicted this Year, Pension Indexing as of 2020

The mission of the International Monetary Fund (IMF) stated on Oct. 4, at the end of their visit to Belgrade for the first consideration of the new arrangement, that it expected Serbia's real GDP growth to be 4.2 percent this year and 3.5 percent in 2019, and indicated that structural reforms should be accelerated.The full implementation of the program of structural reforms will have additional positive effects on the growth potential, reads the statement of IMF Mission chief James Roaf.It was pointed out that total inflation in Serbia increased to 2.6 percent in August and that it was expected to stay around the middle of the three-percent target band during 2018 and 2019.Good macroeconomic results are still being accomplished. In 2018, growth accelerated thanks to private spending and dynamic foreign direct investments and exports. Conditions on the labor market continued to improve, with significant growth of employment in the formal sector, a drop in unemployment and stable growth of salaries in the private sector, Roaf said.He added that, according to estimates, the general level of the state would register a surplus in the amount of 0.6 percent of GDP, with the higher than expected execution of capital spending.The public debt ...

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