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Pension, salary freeze to be lifted in January next year
Belgrade,
31 August 2010
Minister of Finance Diana Dragutinovic has confirmed that an agreement has been reached with the IMF that the public sector salary and pension freeze will continue to be in place until the end of this year and that in 2011 three adjustments will be made, in January, April and October.
In an interview for tomorrow’s edition of the Ekonomist magazine, Dragutinovic said that in January 2011 salaries and pensions will be increased in accordance with six monthly inflation, or by a little less than 3%.
In April they will be adjusted for three monthly inflation and half of the GDP growth rate, and in October for six monthly inflation, she explained.
According to the Ministry of Finance a further RSD 12 billion will have to be set aside for this purpose in the 2011 budget, nearly RSD 4 billion more than was agreed upon in an earlier agreement under which salaries and pensions were to remain unaltered until April next year, she outlined.
She emphasised that the fiscal responsibility bill has been finalised with the IMF and that it will be put before the parliament by 20 September 2010 at the latest. The adoption of this bill is a condition for the approval of the fifth revision of Serbia’s standby arrangement with the IMF.
The bill will ensure that the fiscal deficit in 2011 does not exceed 4% of GDP, concluded the Minister.
In April they will be adjusted for three monthly inflation and half of the GDP growth rate, and in October for six monthly inflation, she explained.
According to the Ministry of Finance a further RSD 12 billion will have to be set aside for this purpose in the 2011 budget, nearly RSD 4 billion more than was agreed upon in an earlier agreement under which salaries and pensions were to remain unaltered until April next year, she outlined.
She emphasised that the fiscal responsibility bill has been finalised with the IMF and that it will be put before the parliament by 20 September 2010 at the latest. The adoption of this bill is a condition for the approval of the fifth revision of Serbia’s standby arrangement with the IMF.
The bill will ensure that the fiscal deficit in 2011 does not exceed 4% of GDP, concluded the Minister.
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