National Bank of Serbia : Governor Tabakovic participates in conference with CESEE central bank governors and finance ministers

Governor Jorgovanka Tabaković, who also serves as Serbian Governor to the IMF, participated today with other central bank governors and finance ministers of Central, Eastern and Southeastern Europe (CESEE) in a virtual conference organised by Alfred Kammer, Director of the IMF European Department.

Тhe high-level meeting focused on the measures that governments and central banks took in response to the pandemic, as well as on the policies supporting a speedier economic recovery and minimising medium-term consequences of the crisis. It was assessed that the efficient economic policy measures implemented had significantly mitigated the negative impact of the pandemic on national economies. The unprecedented economic policy response helped protect the economic structure and hence preserve a solid foundation for returning to pre-crisis levels, which is expected during this and the next year. Job retention schemes implemented across a number of countries helped save millions of jobs.

The economic outlook and challenges for Europe in the coming period were also presented at the conference. The outlook remains clouded by the pandemic. It was concluded that vaccine production and rollout are a priority this year and that the acceleration of the vaccination process is the key to a speedier recovery. Another priority is to create opportunities for post-pandemic recovery with as few consequences as possible. As the economies return to the "new normal", policies will again focus on structural challenges which preceded the crisis or were aggravated by it.

Governor's Office