Serbian PM’s economic advisor Jurij Bajec said that the deferral of the confirmation of the first revision of a precautionary arrangement between Serbia and the IMF did not mean that the arrangement had been terminated.

The IMF mission is to visit Belgrade in two weeks approximately and have talks with the Serbian leadership on all the disputed issues, he said.

The IMF believes some investment projects are too big and could threaten the level of the public debt and fiscal deficit in Serbia, he explained, adding that the fiscal deficit was agreed upon at a level of 4.25% of the gross domestic product (GDP), whereas the legally stipulated maxium of public debts is 45% of the GDP.

He said IMF representatives had no objections regarding salaries in the public sector, pensions and social allocations.