Cover IMF Staff Country Reports
Serbia and Montenegro: Staff Report for the 2005 Article IV Consultation
Author: International Monetary Fund
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2005: Issue 233
Language:
English
Publication Date:
14 Jul 2005
DOI:
https://doi.org/10.5089/9781451833577.002
ISBN:
9781451833577
ISSN:
1934-7685
Pages:
165
Keywords:
ISCR; CR; deficit; enterprise; government; privatization revenue; enterprise restructuring; revenue collection; envisaged policy package; authorities of Serbia and Montenegro; exchange rate depreciation; Current account deficits; Inflation; Global
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This 2005 Article IV Consultation highlights that macroeconomic imbalances in Serbia and Montenegro widened in 2004, putting at risk some of the impressive earlier achievements. Growth, about 5 percent in nonagriculture since 2002, has been fueled by a surge in domestic demand. Lack of competitive domestic production has led to increased imports and a widening current account deficit. The main policy challenge is to maintain macroeconomic stability while accelerating structural reform. Fiscal policy needs to be tightened substantially, and its flexibility increased by reducing the large share of nondiscretionary spending.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund