MALI: Pensions to increase by 5.4% from January 1, 2020

Serbian Finance Minister Sinisa Mali has announced that the budget for 2020 will be on the government's agenda at the session scheduled for Saturday, November 2, and added that, according to the most recent information available to him, pensions would increase by 5.4% from January 1, 2020.

– The fiscal consolidation measures, which entailed savings, resulted in us having, in eight months, a budget surplus of RSD 46.6 billion, a growth rate of 4.4% in 2018 and 3.5% in 2019, fully consolidated public finances and a fully stable public debt – Mali said on TV O2.

As the Ministry of Finance announced, he said that the promised aid to pensioners in the amount of RSD 5,000 per person would be paid on November 4 or 5, and that pensions would be increased from January 1 using the Swiss formula, where the pension is calculated relative to the average salary and the inflation.

According to the minister, the increase of salaries in the public sector, from 8 to 15%, starts with the November salary, paid in December.

– As I've mentioned before, medical nurses will get a raise of 15%, followed by medical doctors with 10%, whereas public administration employees will have their salaries raised by 8% - the minister says and adds that this is the third year in a row with public sector salary increases.

Ministarstvo finansija Republike Srbije

Siniša Mali

pensions

raising pensions

public sector salaries

salary raises