EBRD Transition Report asks for more reforms in Serbia

* Challenges but also benefits ahead, says latest EBRD Transition Report * Serbia should advance public sector reforms, privatisation and SOE restructuring, report says * Better access to finance for SMEs and transparent rules are key for progress

The countries where the EBRD invests face challenges but they continue with much-needed reforms, says the Bank says in its latest Transition Report 2018/19 which was presented by its Chief Economist Sergei Guriev in Belgrade today.
"While progress in the area of structural reform has been modest, positive developments outweigh negative ones in most of the economies where the EBRD invests", the report says.
The presentation at the National Bank of Serbia was attended by representatives of the government, businesses and academia.
"While the transformation of work will pose major challenges for policymakers, our overall message is optimistic," Guriev added. "Changing work patterns can result in tangible aggregate benefits. Moreover, a fair distribution of those benefits is eminently feasible. The future of work will itself entail plenty of work, but that future can and should be a bright one."
Highlights and key priorities for Serbia
After growth of only 2 per cent in 2017, economic expansion in Serbia rose to over 4 per cent in 2018. This increase was fuelled by a recovery of domestic demand, while high export growth was offset by the continued strong growth of imports. In 2019, the EBRD expects growth to slow down to 3.5 per cent, largely based on domestic consumption and investment, with offsetting effects from higher imports.
Fiscally, Serbia has achieved a substantial adjustment over the past few years supported by IMF arrangements.
The country started...

Continue reading on: