Salaries and pensions to be discussed in November - IMF Mission estimates the second revision of agreement with Serbia as positive

The Mission of the International Monetary Fund (IMF) has today provided positive estimation of the results of the second revision of the stand-by agreement with Serbia and announced that they will discuss option of salary increase in public sector and pensions in November, during next visit of the mission.

Head of IMF Mission, James Ruff said at the press conference at the Government of Serbia in Belgrade that agreement made with the authorities in Serbia during a two-week visit of the mission will have to be approved by IMF Executive Board in mid-October.

Ruff outlined that IMF Mission revised estimation of gross domestic product increase of Serbia in 2015 from minus 0,5 to plus 0,5.

He congratulated for financial and fiscal stability was generated in the country so during next IMF ‘s visit in November discussion will be on to what extent permanent increase of budget profit can be used for consumption expansion in 2016.

The minister of finance, Dusan Vujovic outlined at the press conference that the most difficult tasks in structural reforms are yet to come, first of all in reform of public companies governmental administration.

IMF Mission started in Belgrade August 21 discussions with the officials of Serbia on the second revision of the current agreement.

In late February this year, IMF approved Serbia a three-year stand by precautionary agreement totaling EUR 1,2 billion.

Međunarodni monetarni fond-MMF Beograd

Vlada Republike Srbije

Ministarstvo finansija Republike Srbije

James Ruff GDP

Dušan Vujović

stand-by agreement of Serbia with IMF