Aasim Husain, deputy director of the IMF's European department, said Serbia had made strides in controlling it budget but needed to do more.

"The Serbian authorities passed a 2014 budget that is actually quite good. It contains a series of fiscal measures that we think go some way to address their fiscal issues. It forms a basis for us to resume discussions on a possible program with the Fund. I'm expecting a mission to go in the next month or two," he said in an interview with Reuters.

But more action from Belgrade was also needed to ensure fiscal stability. "Just the steps in 2014 by themselves are not it. There is going to need to be more in 2015 and 2016."

(Reporting by Michael Shields Editing by Jeremy Gaunt)