Balkans Business News

IMF seeks reforms in Serbia's 2010 budget
Gordana Filipovic - 07.10.2009
The International Monetary Fund is willing to discuss this month a wider Serbian budget gap for 2010, but wants to see spending cuts and a broader tax base to curb the deficit sooner rather than later.

With Serbia set to return to growth next year, IMF resident representative in Serbia Bogdan Lissovolik said Belgrade should seek to fix its public finances in the medium term.

"We need to address Serbia's fiscal and structural problems," he told Reuters in an interview.

"For now, 3.5% is our best shot, the most reasonable target... But we are ready to discuss with the authorities. Everything depends on how pieces fall into place," he said.

"We consider it a very reasonable compromise between avoiding a pro-cyclical stance and starting to address longer term progress."

Serbia received a 3-billion-euro loan in May to help bolster its economy......

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