Resident representative of the IMF in Belgrade Bogdan Lissovolik stated that one of the key objectives of the IMF arrangement with Serbia – to avoid the crisis of currency and the banking sector – has been achieved.

At the Economic Summit of Serbia in Belgrade, Lissovolik stated that other objectives included establishment of responsible fiscal policy and stimulation of structural reforms.

Reforms of fiscal policy have commenced, but more resolute steps are needed, while the least was done in the field of structural reforms, assessed Lissovolik.

According to him, the freezing of salaries and pensions, envisaged by the arrangement wit the IMF, yielded the results, but other reforms of public sector that involve reduction in number of employees, are necessary, too.

Lissovolik emphasized that Serbia must establish a model of the economic growth based on exports, which necessarily calls for liberalization and structural reform of the market and increase of the private sector involvement.