Negotiations with IMF begin in Belgrade, PM: Crisis “statistically and formally” over

Belgrade, May, 20. 2010 (Serbia Today) - Fresh negotiations between Serbian officials and the International Monetary Fund (IMF) mission relating to the fourth revision of the stand-by agreement have started in Belgrade. At today's meeting they have analyzed the current economic situation and macroeconomic indicators for the first quarter. In the next two weeks they will discuss the further implementation of agreed measures. Immediately before the meeting Prime Minister Mirko Cvetkovic said that the crisis in Serbia was “statistically and formally” over. Cvetkovic pointed out that the real economic recovery in Serbia would come when the economy grows by a more sizable margin. He said that a high unemployment rate remains among the country's biggest problems, despite the fact that its growth had slowed. Cvetkovic reminded that the Serbian economy was forecast to gain two percent in 2010, while economic expansion should reach three to 3.5 percent in 2011.  In the talks with the IMF, the Serbian government will be also speaking about increasing wages and pensions. It will however, be considered from the point estimates of economic trends by the end of the year, as well as fiscal effects, the government announced.