Bloomberg News

IMF Sees Serbia’s 2013 Budget Plan as Too Optimistic, NIN Says

October 24, 2012

The International Monetary Fund calculates Serbia overestimated revenue and underestimated spending in its 2013 budget plan, NIN reported, citing a person it didn’t name.

The government forsees a consolidated budget deficit of 130 billion dinars next year, equivalent to 3.5 percent of forecast gross domestic product, Belgrade-based weekly NIN said. The multinational lender estimates the gap will reach 165 billion dinars without additional cuts, or 4.5 percent of GDP, which would reduce the chances of a new loan program for the Balkan nation, NIN said.

An IMF delegation is due to visit Serbia next month and will ask the government to reverse some of the changes it made to central bank law in August that curbed the institution’s autonomy, the report said.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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