UID:
edocfu_9958068220602883
Format:
1 online resource (72 p.)
ISBN:
1-4843-8415-6
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1-4843-7191-7
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1-58906-396-1
Series Statement:
IMF country report ; no.13/206
Content:
This staff report on the Republic of Serbia’s Article IV Consultation highlights economic background and policies. The global financial crisis exposed Serbia’s unsustainable growth model and its key vulnerabilities. Robust growth has not taken off, and economic activity is below precrisis levels amid widespread structural rigidities. Serbia’s economy is recovering from recession but faces multiple challenges. The successful launch of Fiat production in 2012 is contributing to growth this year, and inflation is declining. Potential growth is constrained by multiple structural hurdles resulting from unfinished structural reforms. Rebalancing the policy mix and launching a comprehensive package of structural reforms are critical to unlocking Serbia’s growth potential.
Note:
Description based upon print version of record.
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Cover; CONTENTS; CONTEXT; BOXES; 1. Implementation of Past Fund Advice; RECENT ECONOMIC DEVELOPMENTS; OUTLOOK AND RISKS; POLICY DISCUSSIONS: ACHIEVING MACROECONOMIC STABILITY AND SUSTAINED GROWTH; A. Fiscal Policy: Restoring Public Debt Sustainability; B. Monetary and Exchange Rate Policy: Keeping Inflation Under Control; C. Financial Sector: Preserving Stability and Reviving Credit Growth; D. Structural Reform: Strengthening Competitiveness and Growth; STAFF APPRAISAL; 2. Structural Fiscal Challenges; 3. External Sustainability Assessment; 4. Experience with Containing the Public Wage Bill
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5. Local Government Spending6. Macro-Financial Linkages; FIGURES; 1. Emerging Europe: Symptoms of Unsustainable Growth Accelerations, 2004-08; 2. Labor Market Selected Indicators, 2006-12; 3. Policy Challenges, 2004-13; 4. Balance of Payments, 2007-13; 5. Inflation and Monetary Policy, 2010-13; 6. Recent Financial and Exchange Rate Developments, 2010-13; 7. Public Debt, Adjustment Need, and Fiscal Deficit Under the Fiscal Scenarios, 2009-20; 8. Subnational Government Spending, 2000-12; 9. Food Price Volatility, 2008-13; 10. Monetary Policy, 2012-13
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11. Selected Financial Soundness Indicators, 201212. Growth Composition and Structural Bottlenecks, 2004-12; TABLES; 1. Selected Economic and Social Indicators (Unchanged Policy Scenario), 2008-13; 2. Medium-Term Scenario (Unchanged Policy Scenario), 2009-18; 3. Macroeconomic Assumptions (Unchanged Policy Scenario), 2011-18; 4. Balance of Payments (Unchanged Policy Scenario), 2009-18; 5a. General Government Fiscal Operations (Unchanged Policy Scenario), 2009-18 (billion RSD); 5b. General Government Fiscal Operations (Unchanged Policy Scenario), 2009-18 (percent of GDP)
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6. Monetary Survey (Unchanged Policy Scenario), 2009-137. Illustrative Medium-Term Adjustment Scenario, 2009-18; 8. Banking Sector Financial Soundness Indicators, 2009-13; 9. Rankings of Selected Competitiveness and Structural Indicators; 10. Capacity to Repay Indicators, 2013-18; 13. Public Debt Sustainability: Bound Tests; 11. Public Debt Sustainability Framework, 2008-20; 14. External Debt Sustainability: Bound Tests; 12. External Debt Sustainability Framework, 200-18; APPENDIX; I. Risk Assessment Matrix; CONTENTS; FUND RELATIONS; WORLD BANK GROUP RELATIONS; STATISTICAL ISSUES
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English
Additional Edition:
ISBN 1-4843-0166-8
Language:
English
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