macroeconomic policy

IMF signals Serbia’s shift toward infrastructure-led growth model

Serbia's recent agreement with the International Monetary Fund (IMF) indicates a significant transition in the country's economic development strategy. This shift emphasizes public infrastructure investment, energy modernization, and state-supported industrial growth as primary drivers, particularly as private consumption and export activities face challenges from declining European demand. The IMF's staff-level agreement, reached in early May, confirmed Serbia's compliance with the Policy Coordination Instrument framework. This compliance helps maintain Serbia's standing among international lenders as one of the more fiscally disciplined…