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A:
World Bank approves $25 million for pension system reform
Belgrade,
1 June 2005
The World Bank office in Belgrade said today that the bank’s Board of Directors approved a project worth $25 million to support reform and modernisation of Serbia’s pension system.
Serbia’s pension system, which is divided into three parts (for employees, self-employees and farmers), represents a serious obstacle in the state budget as it totals 7 percent of the country’s GDP, reads the statement.
The activities of the Ministry of Labour, Employment and Social Policy will also strengthen the pension policy development plan, reads the statement.
The activities of the Ministry of Labour, Employment and Social Policy will also strengthen the pension policy development plan, reads the statement.
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