Belgrade abolishes law on pensions reduction

The move came after the International Monetary Fund (IMF) delegation had told Belgrade that it should stop implementing the law since it was the temporary measure.

Vucic announced the move while visiting the construction works on a bridge across the Sava river on the Corridor 11 at Belgrade's outskirt of Obrenovac.

An average reduction in 2014 was about 10 percent, while Vucic said that as of November  this year or more likely next January, an average increase would be between 10.4 to 13.3 percent compared to 2014.

Vucic said the decision was based on economic parameters, but that it also was a politically motivated, adding Prime Minister Ana Brnabic and the most considerable part of the society had agreed with it.

“The IMF would also be satisfied,” Vucic said.

The talks between the IMF and Belgrade are at hold, reportedly because of former Finance Minister resignation. A new meeting is expected by the end of summer.

Vucic said that the bridge would shorten the distances between Serbia's towns of Cacak and Pozega in a year and a half and three years respectively. He added that Serbia would have the largest motorway network in the region.