imf projects gdp growth of 25 pct for serbia in 2016
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

IMF projects GDP growth of 2.5 pct for Serbia in 2016

Arab Today, arab today

Arab Today, arab today IMF projects GDP growth of 2.5 pct for Serbia in 2016

The International Monetary Fund (IMF)
Belgrade - XINHUA

The International Monetary Fund (IMF) increased its projection of GDP growth for Serbia from 1.8 to 2.5 percent on Tuesday.

The projection was made after two weeks of negotiations over an IMF assessment between the IMF, Serbian government and the National Bank of Serbia

"We expect now that in 2016 the real growth of GDP will be 2.5 percent, while the inflation will be 1.3 percent," IMF mission chief James Roaf said at a press conference.

He added the results were due to the good economic program Serbia is continuing, and that economic growth was supported by significant investments and increase in exports.

Roaf estimated that the IMF assessment would be completed by the end of August, after which Serbia will have additional 147 million euros (165 million U.S. dollars) available under the stand-by arrangement, bringing the total available funds to 762 million euros, which Serbia announced it has no intention to withdraw.

Serbia signed a precautionary stand-by arrangement with IMF worth 1.2 billion euros in February 2015. This is the second time IMF has changed its projection of Serbia's GDP growth this year, having changed it from 0.5 to 1.8 percent of GDP earlier this year.

Roaf pointed out that inefficient and unviable state-owned companies presented for a long time an obstacle to the private sector-led growth, and that a lot of tough tasks are left to be completed in this area, especially in energy and mining.

He said there will be no increase of salaries in the public sector and pensions that were decreased at the beginning of last year, and that this topic will not be on the negotiating table before the end of 2016.

"The financial sector agenda in 2016 focuses on two areas: first the reform of state-owned financial institutions. And second, the full implementation of the Non-Performing Loan (NPL) resolution strategy, which is already contributing to reduction of the high levels of impaired assets in banks' loan portfolios," Roaf said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf projects gdp growth of 25 pct for serbia in 2016 imf projects gdp growth of 25 pct for serbia in 2016

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf projects gdp growth of 25 pct for serbia in 2016 imf projects gdp growth of 25 pct for serbia in 2016

 



GMT 11:40 2018 Friday ,05 January

Zuckerberg makes 'fixing' Facebook a personal goal

GMT 01:05 2014 Thursday ,13 February

Flora

GMT 21:50 2017 Wednesday ,25 October

Abdullah bin Zayed visits WorldSkills Abu Dhabi 2017

GMT 16:33 2017 Tuesday ,04 July

Hany Ramzy happy for positive reactions

GMT 20:11 2018 Wednesday ,05 December

EU wants INF Treaty 'preserved and fully implemented'

GMT 21:01 2018 Sunday ,25 November

Oil prices plummet amid U.S. drilling rigs down

GMT 13:01 2016 Sunday ,28 August

China's Top 500 Firms Report First Revenue Decline

GMT 04:46 2014 Thursday ,11 December

Taliban suicide blast kills 6 Afghan soldiers in Kabul

GMT 11:10 2018 Wednesday ,17 January

MP Hariri welcomes Sho
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday