Republic of Serbia [electronic resource] : Staff Report for the 2010 Article IV Consultation, Third Review Under the Stand-By Arrangement, and Financing Assurances Review.

International Monetary Fund
Washington, D.C. : International Monetary Fund, 2010.
IMF eLibrary
IMF Staff Country Reports; Country Report No. 10/93.
IMF Staff Country Reports; Country Report No. 10/93
Government document
1 online resource (92 p.)
Local subjects:
Account deficits.
Aggregate demand.
Article IV consultation reports.
Balance of payment.
Balance of payments.
Banking sector.
Budget support.
Budget system.
Budgetary consolidation.
Capital expenditure.
Central bank.
Currency risks.
Current account.
Current account adjustment.
Current account balance.
Current account deficit.
Current account deficits.
Debt dynamics.
Debt ratio.
Debt ratios.
Debt restructuring.
Debt service.
Debt service obligations.
Debt stock.
Debt sustainability.
Domestic borrowing.
Domestic currency.
Domestic savings.
Economic indicators.
Excessive volatility.
Expansionary fiscal.
External debt.
External debt service.
External debt stock.
External debt sustainability.
External financing.
External payment.
Fiscal activities.
Fiscal adjustment.
Fiscal adjustment efforts.
Fiscal assumptions.
Fiscal authorities.
Fiscal balance.
Fiscal conditionality.
Fiscal consolidation.
Fiscal data.
Fiscal deficit.
Fiscal deficits.
Fiscal discipline.
Fiscal framework.
Fiscal imbalances.
Fiscal losses.
Fiscal monitoring.
Fiscal operations.
Fiscal policies.
Fiscal policy.
Fiscal position.
Fiscal rectitude.
Fiscal reforms.
Fiscal resources.
Fiscal responsibility.
Fiscal responsibility framework.
Fiscal restraints.
Fiscal risks.
Fiscal space.
Fiscal stance.
Fiscal strategy.
Fiscal sustainability.
Fiscal targets.
Fiscal tightening.
Foreign borrowing.
Foreign debt.
Foreign loans.
Formal sector.
General budget.
General government expenditure.
Government debt.
Government deficit.
Government expenditure.
Government loan.
Government revenue.
Government spending.
Imf purchases.
Interest expenditure.
Intergovernmental fiscal.
Long-term debt.
Long-term loans.
Medium-term fiscal framework.
Multilateral creditors.
Net debt.
Nonconcessional debt.
Official creditors.
Payment arrears.
Primary deficit.
Primary fiscal balance.
Private debt.
Private external debt.
Private sector debt.
Public debt.
Public enterprise debt.
Public sector debt.
Public spending.
Quasi-fiscal deficits.
Reserve accumulation.
Reserve assets.
Short term debt.
Short-term debt.
Staff Reports.
Stand-by arrangement reviews.
Structural fiscal.
Tax administration.
Tax authorities.
Tax burden.
Tax compliance.
Tax revenue.
Tax revenues.
Tax system.
Tight fiscal policies.
Total external debt.
This 2010 Article IV Consultation highlights that the authorities’ adjustment program has contributed to limiting the fallout of the global crisis on Serbia. Although the output slump has been limited relative to regional peers, the decline in domestic demand has been significant, resulting in a strong external adjustment. The outlook for 2010 points to a slow but balanced recovery. The pickup in growth will likely be moderate, reflecting slow trading-partner recovery, protracted corporate deleveraging, nominal freezes in public wages and pensions, and lagging labor market adjustment.
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