The National Bank of Serbia reported that Governor Jorgovanka Tabaković and Serbia’s First Deputy Prime Minister and Minister of Finance Siniša Mali met with International Monetary Fund Deputy Managing Director Bo Li, who described Serbia as one of Europe’s fastest growing economies and highlighted the importance of preserving policy credibility, buffers and central bank independence. The IMF indicated it will continue working with Serbia under the new non-financial advisory Instrument for Policy Coordination. Tabaković said inflation has been within the 3% ± 1.5% target band since May 2024 and is expected to remain there while gradually easing toward the 3% central target. She cited a non-performing loan ratio of 2.46% in February, high foreign exchange reserves by adequacy metrics with gold at around 15%, record foreign direct investment inflows of EUR 5.2 billion in 2024, and gross domestic product growth of 3.9% in 2024 driven by consumption and fixed-asset investment; she also pointed to Expo 2027-related projects and new electric vehicle, tire and energy-sector capacities as supports for investment and export growth, alongside a gradual recovery in key trading partners.
National Bank of Serbia 2025-04-24
National Bank of Serbia meets IMF Deputy Managing Director Bo Li as IMF praises Serbia’s growth and central bank independence
The National Bank of Serbia reported that Governor Jorgovanka Tabaković and Serbia’s First Deputy Prime Minister met with IMF Deputy Managing Director Bo Li, who praised Serbia's rapid economic growth and emphasized policy credibility and central bank independence. The IMF will continue collaborating with Serbia under the new non-financial advisory Instrument for Policy Coordination. Tabaković noted inflation within the target band, a low non-performing loan ratio, high foreign exchange reserves, and significant foreign direct investment inflows, with GDP growth driven by consumption and investment.