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The Executive Board of the International Monetary Fund (IMF) confirmed a new non-financial arrangement for Serbia on Monday in Washington, set to last for the next three years.
Finance Minister Sinisa Mali stated that there is no need to withdraw additional funds.
"The new non-financial arrangement, in the form of the Policy Coordination Instrument (PCI), guarantees the continuation of reforms in Serbia with the partnership support of an international institution that has been involved in the process from the outset," Mali said.
He emphasized that under this new arrangement, Serbia commits to ensuring that the fiscal deficit will not exceed 3% of GDP in the coming year.
"This will allow us to continue with significant planned capital investments while maintaining absolute stability in public finances," Mali added following the official confirmation of the arrangement, according to a statement from the Ministry of Finance.
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