---

23/02/2017

The meeting of the CBCG delegation, Ministry of Finance and IMF Mission was held today as a part of regular consulting with the country member, in line with Article IV of the IMF Article for Mission, chaired by the CBCG Governor Radoje Žugić, Phd, Minister of Finance, Darko Bulatović and the Head of IMF Mission, Martin Petri.

Views on perspectives of fiscal and broader economic challenges were discussed at the meeting. Governor Žugić pointed out the fact that the negative developments in the banking sector were turned into positive ones, emphasizing the decrease in level of non-performing loans, drop in interest rates as well as a slight increase in credit activities. He also expects these trends to continue, which would stimulate both economic growth and development. A new set of legislation is currently being prepared and will be adopted by the year-end, additionally strengthening the financial stability.

A high level of agreement on measures needed for fiscal consolidation between CBCG, Ministry of Finance and IMF was accomplished at the meeting. In order to preserve competitiveness of economy and citizens living standard, the Governor highlighted that it is necessary to find a balance between the rigid and flexible fiscal consolidation measures.

The talks with the IMF Mission will continue during the IMF and World Bank Spring Meetings in the second half of April 2017, when the CBCG and Ministry of Finance delegation will take part in.