Brnabic with the IMF: Restructuring of the energy sector is a priority

A detailed energy investment plan is currently in the works, Prime Minister Ana Brnabic said during the meeting with the mission of the International Monetary Fund (IMF), led by Donal McGettigan, as part of the first review of the current standby arrangement, which Serbia has been implementing since December 2022.

According to the Government website, Brnabic pointed out that Serbia is achieving good economic results despite numerous challenges, and that the current priority is the restructuring of the energy sector.

According to her, last year's exports in the IT industry amounted to EUR 2.7 billion and are 45% higher than in 2021.

- In January this year alone, we recorded a 42% higher growth of exports in that industry compared to the same month in 2022 - said Brnabic, adding that this represents a big potential and that the Government's goal is to reach EUR 4 billion worth of exports.

Brnabic also stated that biotechnology can be an additional source of growth biotechnology and that in this context the construction of the BIO 4 campus is important. It would attract investment in research and development projects in Serbia, and efforts will be made to increase the productivity of the economy with the use of artificial intelligence.

She pointed out that work is being done on the digitization of the health system, as well as that the unique education information system will provide solid data, on the basis of which investment priorities in the education sector will be planned.

McGettigan assessed that the Serbian economy has proven to be resistant to external shocks and that inflation remains the only challenge, just as it is for other European and world countries.

- According to IMF expectations, inflation in Serbia should be 8% lower by the end of the year, according to the Government website.

He also pointed out that the implementation of the current arrangement is making excellent progress, and that all planned goals have been met so far.

The Head of the IMF Mission particularly praised the "Iskra" project, which includes a system of centralized salaries in the public sector.

- The situation in the energy sector is stable, but it is important to continuously monitor it - McGettigan concluded.

The current standby arrangement lasts 24 months, until the end of 2024.

Vlada Republike Srbije

Međunarodni monetarni fond-MMF Beograd

Ana Brnabic

Donal McGettigan

IT industry export

construction of BIO 4 campus

Iskra project