Fitch: Elections Command Fiscal Consolidation and Reforms

People ♦ Published: March 20, 2014; 15:51 ♦ (Vindobona)

Vucic appears to acknowledge the need for reforms in Serbia.

The recent signing of a $1bn loan agreement with the United Arab Emirates may help Serbia refinance some of its most expensive debt. / Picture: ©

The decisive victory by the Serbian Progressive Party (SNS) in Serbia's parliamentary elections arguably constitutes a mandate to accelerate fiscal consolidation and structural reform in line with SNS's broad policy commitments, Fitch Ratings says. But it remains to be seen how a new government will overcome deep-rooted opposition to reform in areas such as restructuring state-owned…