IMF: 7th review of SBA with Serbia completed successfully

The IMF Executive Board has completed the seventh review of Serbia's current stand-by arrangement (SBA) and concluded its Article IV consultations with Serbia.

The National Bank of Serbia (NBS) announced this on Thursday, according to the Serbian government.

The IMF found that the three-year arrangement, signed in February 2015, was "unfolding successfully - good macroeconomic results have been achieved and real GDP is now considerably above pre-crisis levels, while inflation is moving within the target tolerance band, while current account deficit has narrowed significantly."

The IMF also stated that "the excellent revenue performance supports fiscal consolidation, allowing for much less expenditure adjustments - however, it is important to continue a firm hold on current spending in order to create room for public debt reduction and higher capital investment."<...