During the Intergovernmental meeting in Brussels on Thursday, Serbia opened chapter nine on finances, adding it to the previously opened 16 out of 35 chapters in Belgrade’s accession negotiations with the European Union that started in 2014, the state broadcaster RTS reported.

Two chapters were closed.

Chapter nine regulates the country’s financial system. The area is crucially important for all participants in the system since it is expected to lower the interest rates and provide better conditions for borrowing money, the TV said.

During the conference, Belgrade signed the Instrument for Pre-Accession Assistance, (IPA) agreement worth 179.1 million Euros.

Serbia hoped to open at least three chapters this month, but the latest European Commission (EC) report on the country's progress to the EU membership was not favourable enough.

Earlier on Thursday, Tanja Fijon, a member to the European Parliament said even one opened chapter was a success for Serbia.