President Aleksandar Vucic announces that pension in Serbia will be increased by 12 percent in December

Photo: Tanjug/Jadranka Ilic

From December 1, pensions in Serbia will be increased by 12 percent, President Aleksandar Vucic announced late on Thursday.

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"I had announced to the citizens of Serbia that pensions would increase between 7 and 8 percent from December 1, believing that it would be around 8 percent. That would be a big increase considering that we expect an annual inflation rate of around 4 percent on average, which means that their standard of living would increase by 3.5 to 4 percent. This means that if someone gets, I don't know, 40,000 dinars, then it would be 43,200. However, I now want to I announce the good news to our pensioners, they deserve it - pensions will perhaps grow by much as 12 percent," Vucic told TV Pink.

He added that with a 12 percent increase, a pension that is now 40,000 dinars will be increased to about 44,800 dinars.

"So, significantly more than that. Now the average pension in Serbia is (equivalent to) 436 euros, it will be between 485 and 490 euros. We are rapidly approaching the figure of 650 euros average pension until the end of 2027, which is what we told pensioners in our long-term plan. Don't forget that the average pension in our country would be significantly higher, if it weren't for pensioners who worked in agriculture and self-employed workers, where it becomes more of a social than economic category," said Vucic.

He stressed that he is very happy about the fact that pensions will be increased to that degree.

"We will make sure that the (increased pensions) are paid before the Orthodox Christmas (January 7). It will be the fourth or fifth non-working day (after the New Year), which will matter to people of other religions as well, because there's a lot of spending around Gregorian calendar Christmas and the New Year, so both Catholics and Protestants, and also our Muslim citizens (will benefit), a lot is spent during all the holidays, so pensioners will not have to wait for February but will get (higher) pensions right after the New Year," said Vucic.

The president also said that he is unaware of any other country hiking pensions by 12 percent, especially considering that Serbia has had a cumulative increase of 21.5 percent.

Vucic mentioned that salaries grew incomparably faster than pensionsin the previous period, and that now is the pensioners' turn to receive more money.

(Telegraf.rs/Tanjug)