Vucic meets with IMF representatives

BELGRADE - Serbian President Aleksandar Vucic met on Tuesday in Belgrade with representatives of an International Monetary Fund (IMF) mission headed by Annette Kyobe, noting that, in spite of growing global uncertainty, Serbia was succeeding in maintaining a good fiscal position and a high level of foreign exchange reserves and in pursuing an appropriate monetary policy.

In an Instagram post, Vucic wrote that he had had an important and substantial meeting with the IMF representatives at which global economic challenges and their impact on Serbia, as well as current macroeconomic trends, outlooks and risks had been discussed.

He added that he had recapped some of the results of implementation of reforms as part of an economic programme backed by the IMF through the current Policy Coordination Instrument, and that they had also discussed proposals for new reform objectives.

"I noted that Serbia, in spite of growing global uncertainty, is succeeding in maintaining a good fiscal position, a high level of foreign exchange reserves and in pursuing an appropriate monetary policy with a responsible approach to public finances, strengthening of the investment environment and implementation of reforms," Vucic posted.

He added that they had exchanged views on global economic challenges and their impact on the region, especially in light of high energy prices and global market disruptions, and noted that it was important to continue the policy of stability, as well as to invest in the future courageously and work on Serbia's competitiveness.

"I noted that, according to initial estimates, our country's economic growth can reach better-than-projected results, in spite of a cautious approach we have in forecasts such as these," Vucic said.

He highlighted investments related to hosting specialised EXPO 2027 in Belgrade as one of the key drivers of growth in the coming period.

He added that the fiscal policy remained stable and aimed at deficit control, while public debt was on a decline.

Vucic especially noted that public investments were high and in compliance with maintaining the stability of public finances, making them a key support of further economic growth.

"I believe the cooperation with the IMF in the coming period, too, through continued successful implementation of the arrangement, will lend strong support to our efforts to build a safe, stable and prosperous Serbia," Vucic posted.