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Serbia's growth is strengthening and labor market indicators are showing noticeable improvement.

“We expect real GDP growth of 2.7 pct in 2016 and 3 pct in 2017”, said IMF Mission head James Roaf. Inflation remains subdued even as private sector wage growth accelerates, Roaf told an end-of-mission press conference following discussions on the sixth review under Serbia’s precautionary stand-by arrangement (SBA) with the IMF. The IMF mission reached staff-level agreement with the authorities on policies needed to complete the sixth review under the SBA, with approval tentatively scheduled for mid-December, he said.