IMF, Serbia to discuss fiscal responsibility legislation.

By bne IntelliNews August 2, 2010
Serbia's fiscal responsibility legislation will be the main topic discussed during the upcoming review of country's stand-by arrangement with the IMF, the lender's resident representative in Serbia Bogdan Lissovolik stated. As recalled, the Serbian authorities pledged to adopt a fiscal responsibility law that would stipulate that the country's public debt should not exceed 40% of GDP. Under the law, the new government borrowing should not exceed 2.5% of the country's GDP. It also seeks to slash the share of public spending in GDP by 0.75pps.

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