RSD8 billion from Budget Revision for Extraordinary Pension Increase

Janko Guzijan, State Secretary at the Ministry of Finance, announced extraordinary ten-percent pension hike. “The Ministry of Finance will support the proposal made by the Ministry of Labor and Social Policy, provided that funds are created by revision of the budget for this year. Additional funds for pension-related expenses will be provided from supplementary revenues in the budget and savings on other budget positions, which will be defined by budget revision. The estimates are that some RSD8 billion need to be allocated for the extraordinary adjustment of pensions”, Guzijan said.

Janko Guzijan, State Secretary at the Ministry of Finance, announced extraordinary ten-percent pension hike. “The Ministry of Finance will support the proposal made by the Ministry of Labor and Social Policy, provided that funds are created by revision of the budget for this year. Additional funds for pension-related expenses will be provided from supplementary revenues in the budget and savings on other budget positions, which will be defined by budget revision. The estimates are that some RSD8 billion need to be allocated for the extraordinary adjustment of pensions”, Guzijan said.

The state secretary underlined that in the process of budget revision, which will soon be presented to the public, the Ministry of Finance will be careful not to increase public expenditure or the budget deficit. Guzijan highlighted that funds for financing of additional expenses will be provided by a combination of budget savings and higher revenues.