For the first time since 2005 a fiscal surplus was recorded (around 1.2% of GDP), while the share of public debt in GDP was slashed by more than 10 pp in 2017 alone.
NBS’s monetary policy easing, better positioning of the country in the international financial market, stronger investor confidence, credit rating upgrades and a sharp fall in the country risk premium ensure cheaper sources of funding and reinforce Serbia’s fiscal position.