IMF says Serbia's 2015 budget in line with agreed economic program

In November, the two sides agreed on an economic program that could be supported by a 36-month 1.0 billion euro ($1.22 billion) precautionary stand-by arrangement.

The Serbian authorities are also working to implement other measures, which are part of the staff-level agreement that will help Serbia reform its economy, the IMF said in a statement on Monday.

Last week, Serbia's parliament adopted a budget for 2015 that projects revenues of 924.4 billion dinars ($9.28 billion/7.63 billion euro) and outlays of 1,082 billion dinars.

The stand-by arrangement is subject to approval by IMF management and the executive board. The board discussion is tentatively scheduled for the second half of February.

(1 euro=121.1933 Serbian dinars)