EBRD urges Serbia to resume reforms - Results better than expected

Serbia's medium-term growth prospects remain favourable if macroeconomic and external stability is sustained and economic reforms progress, backed by relatively good human capital endowment and a speed-up in the EU accession process, says the EBRD Transition Report 2015-16.

The Serbian government should continue reforms to achieve sustainable long-term fiscal adjustment, the EBRD notes in the report, adding that Serbia's fiscal consolidation results in 2015 were better than expected.

- Consistent implementation of structural reforms envisaged under the IMF programme, most notably the reforms of public administration and state-owned enterprises, is key to achieving sustainable long-term fiscal adjustment and improving growth prospects - says the document published on the EBRD website.

The EBRD is of the opinion that efficient execution of public investments in Serbia, which significantly underperformed the plan in 2015, is necessary for long-term convergence, while the preparation and implementation of public investment projects should be accelerated in order to support long-term growth.

EBRD Evropska banka za obnovu i razvoj

Vlada Republike Srbije

Međunarodni monetarni fond - MMF Beograd

European Bank for Reconstruction and Development

EBRD

economic growth of Serbia

economic reforms

fiscal consolidation

International Monetary Fund

IMF

public administration

public enterprises

foreign trade

non performing loans

npl

bad loans

export from Serbia