Serbian Prime Minister, Mirko Cvetkovic, told a business forum, We should maintain cooperation with IMF as its presence will secure stability and predictability of the market.” A €3 billion loan deal, started in 2009, will end in April.
Under the arrangement, Serbia promised to keep its 2011 deficit to 4.1% of GDP and to secure 3% growth.
Last year’s targets were a 4.8% of GDP deficit and 1.8% growth.
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IMF officials have already said that Serbia is likely to seek a new precautionary standby arrangement from the IMF, ahead of scheduled 2012 elections and amid union pressures for higher wages.
Source www.neurope.eu
