Serbia’s foreign exchange reserves are stable, the Government in Belgrade has preserved macroeconomic stability at the time of increasing global uncertainty and reached a principled agreement with the IMF, the European Commission’s latest economic analysis reads.

The report reminds that the condition of the IMF for the final approval of the standby precautionary arrangement, worth 1.1 billion euros, was that the Serbian budget for 2012 be rebalanced.

It was noted that a decision to grant the EU member candidate status to Serbia was postponed for February and March, while recognizing that Serbia made significant progress.

The European Commission states that Serbia’s GDP growth was decreased by 0.5% in the third trimester last year, while it was still 2.5% in the second trimester.

Based on the initial estimates, the total GDP in Serbia was increased by 1.9% in 2011, and it was 1% in 2010. Exports increased by 17.5% in the first 9 months in 2011, imports – by 14%, foreign exchange reserves reached 12 billion euros.

Serbia’s foreign debt remained at the relatively same level, amounting to 24 billion euros, the report reads.