Republic of Serbia: Fourth Review under the Policy Coordination Instrument-Press Release and Staff Report

International Monetary Fund

No 2020/270, IMF Staff Country Reports from International Monetary Fund

Abstract: Recent economic developments. Notwithstanding a sizeable policy response, the COVID-19 pandemic is having a significant adverse impact on Serbia’s economic activity, with output in 2020 projected to contract by 3 percent, compared to a 4 percent increase expected prior to the COVID-19 shock. The shock is affecting the economy through lower external demand, weaker foreign direct investment and remittances, disruptions in regional and global supply chains, and domestic supply constraints. The government took strong actions to contain the pandemic at an early stage, but the number of infections accelerated again towards end-June. As a result, some containment measures have been re-introduced.

Keywords: ISCR; CR; authority; economy; tax authority; limit balance sheet risk; policy priority; state aid; policy package; containment measure; Fiscal risks; Exchange rates; Loans; Global; Western Europe; Europe; COVID-19 (search for similar items in EconPapers)
Pages: 100
Date: 2020-08-28
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