World Economy

Serbia Growth Forecast Lowered

Serbia Growth Forecast LoweredSerbia Growth Forecast Lowered

The International Monetary Fund revised Serbia’s 2017 growth forecast down to 2% from 2.3% on Tuesday and urged the Balkan country to improve its business environment and accelerate public sector reform, Reuters reported. The fund kept its 2018 growth forecast at 3.5%. The head of its mission to Serbia, James Roaf, said that once its current €1.2 billion ($1.39 billion), three-year loan program ends in February, Belgrade could be a candidate for an IMF tool known as the Policy Coordination Instrument. The PCI is designed for countries seeking to demonstrate commitment to a reform agenda or to unlock and coordinate financing from other official creditors or private investors.

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