Vujovic: Serbia's growth could exceed IMF projections

VIENNA - Serbia may achieve greater growth than the International Monetary Fund's (IMF) program projects, but it depends on the outcome of the privatization of Zelezara Smederevo and other companies, including those on the Privatization Agency's list, Serbia's Finance Minister Dusan Vujovic said Tuesday.

"Everything is on the right track and we expect being able to count on increased production, exports and better economic growth and employment projections in the months to come," Vujovic told reporters at the Central and Eastern European Forum 2015, a Euromoney conference taking place in Vienna on January 20-21.

Speaking about Zelezara, Vujovic said he believed the Serbian government would soon complete negotiations with U.S. steel firm Esmark, the only company interested in buying the Serbian steel plant, adding that he expected the public would be informed about the outcome of the negotiations in the weeks to follow.

"The tender procedure as the first step has been completed, and Esmark was the only bidder. We are now looking closely at the elements of their offer and negotiating the most important elements of the contract.

"The crucial thing is to see what they have to offer and compare that with the requirements and expectations of the EU," the minister said.

Vujovic also said that Serbia was no longer the last placed country in Europe when it came to fiscal position, pointing out that the situation had improved drastically since the summer.

"Since July, we have improved our fiscal position and reduced the deficit's share in gross domestic product. We expect the biggest improvements to come next year, if we keep working on it," he said.

Vujovic said that the government aimed at finding the ideal...