Sat, Nov 21 2009

Serbia, IMF ‘close to agreement’ on fiscal policies for 2010

Thu, Oct 29 2009 12:29 CET byClive Leviev-Sawyer 966 Views
Serbia, IMF ‘close to agreement’ on fiscal policies for 2010

Serbian prime minister Mirko Cvetkovic.

An International Monetary Fund delegation headed by Albert Jaeger is said to be close an agreement with Serbia on the country’s 2010 fiscal policies, after days of meetings between the IMF delegation and government ministers in Belgrade.
 
The IMF approved a three billion euro loan to Serbia in May 2009. In early October 2009, the European Commission proposed that the EU add to this a loan to Serbia of 200 million euro.
 
In separate statements, Serbian prime minister Mirko Cvetkovic and finance minister Diana Dragutinovic said that agreement with the IMF on 2010 fiscal policies and a budget deficit of four per cent of GDP was close.
 
Dragutinovic said that talks were underway on adjusting pensions and salaries, as well as to reach agreement on the efforts needed for fiscal stimuli. She that budget savings in 2010 would be achieved by freezing salaries and pensions, reducing the number of employees, limiting subsidies and reducing the number of priorities when it comes to capital expenditure.
 

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