Serbia to ask IMF to boost deficit limit

BELGRADE, Serbia

The government plans to ask the IMF to increase the budget deficit envisioned in its agreement with the institution, due to the global economic crisis, Prime Minister Mirko Cvetkovic told Tanjug on Sunday (July 5th). When IMF representatives visit Belgrade next month, authorities will request that the limit be raised to 4.5% of GDP this year, instead of the currently stipulated 3%. In April, Serbia signed a $2.9 billion-loan agreement with the IMF and then received the first tranche of $1.1 billion in late May.