Q:
A:
Abolition of pension reduction by year end
Belgrade,
25 May 2018
The government announced today that it will adopt a bill to abolish temporary reduction of pensions at the end of this year, anulling the measures for reducing pensions made in late 2014, when Serbia faced severe financial problems and was close to bankruptcy, after which fiscal consolidation began.
By abolishing this law, pensions will be increased for those who receive pensions of above RSD 25,000, while pensions that were not reduced in 2014 will be increased by 5%.
By implementing this measure for the largest number of pensioners, about one million of them with incomes of less than RSD 25,000 will receive pensions 13.3% higher than in 2014.
By the end of the year, pensions in Serbia will increase by an average of 7.2%.
With these pension measures, in 2019, pensions will be 11.3% higher than in 2014, before the implementation of fiscal consolidation measures.
The surplus in the budget today is RSD 9.4 billion, which is RSD 47.1 billion above plan.
Last year we ended up with a surplus of RSD 33.9 billion and we expect an excellent result this year, while the public debt is reduced from 74.7% in 2015 to 59.9% this year.
By implementing this measure for the largest number of pensioners, about one million of them with incomes of less than RSD 25,000 will receive pensions 13.3% higher than in 2014.
By the end of the year, pensions in Serbia will increase by an average of 7.2%.
With these pension measures, in 2019, pensions will be 11.3% higher than in 2014, before the implementation of fiscal consolidation measures.
The surplus in the budget today is RSD 9.4 billion, which is RSD 47.1 billion above plan.
Last year we ended up with a surplus of RSD 33.9 billion and we expect an excellent result this year, while the public debt is reduced from 74.7% in 2015 to 59.9% this year.
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