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Republic of Serbia: Seventh Review and Inflation Consultation Under the Stand-By Arrangement
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2011: Issue 095
Language:
English
Publication Date:
22 Apr 2011
DOI:
https://doi.org/10.5089/9781455249244.002
ISBN:
9781455249244
ISSN:
1934-7685
Pages:
56
Keywords:
ISCR; CR; Serbia; inflation consultation clause; SDR; EU integration; status; EU candidate status; staff appraisal; inflation expectation; Inflation; Public sector; Foreign banks; Global
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The global financial crisis unmasked Serbia’s unsustainable pre-crisis growth model. Looking back, the Stand-By Arrangement (SBA) provided effective insurance against a financial meltdown, initiated the needed re-balancing of the economy, but could not prevent large job losses. Looking ahead, the transition to a more sustainable growth model remains incomplete and fragile. The export-led recovery is expected to continue picking up steam, but labor market conditions will remain difficult. The current account deficit is expected to remain relatively high, requiring significant capital inflows to maintain external balance.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund