Serbia might unfreeze public sector salaries, pensions, if 2010 GDP growth tops 1.5% " PM.

By bne IntelliNews January 5, 2010
The government might consider unfreezing public sector salaries and pensions if Serbia 's economic growth exceeds the planned 1.5% this year, PM Mirko Cvetkovic said in an interview with Beta news agency. However, this should be agreed upon with the International Monetary Fund (IMF), as the current stand-by loan deal with the lender envisages that both public sector salaries and pensions remain unchanged by the end of the year, Cvetkovic added. He stressed that this was only a possibility. Serbia 's stand-by loan deal with the IMF worth EUR 2.94bn expires in 2011. The country has so far withdrawn two instalments from the loan arrangement worth a total of EUR 1.13bn. Under the agreement terms, Serbia is due to cut public spending by reducing the state administration and keeping salaries in the sector and pensions frozen throughout 2010.

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