Krstic: New contribution rates to come into effect August 1

BELGRADE - Finance Minister Lazar Krstic said Wednesday that the government of Serbia passed an amendment to postpone the implementation of the amended rates for pension and disability insurance contributions by one month, to August 1.

"We have accepted this solution because of the floods and the state of emergency, which also caused the budget revision to be postponed until July instead of conducting it in June, as planned," Krstic told reporters after the meeting of the Serbian parliament's finance committee.

Draft amendments to the law on contributions for mandatory social security insurance envisaged raising of the general rate of pension and disability insurance contributions from 24 to 26 percent.

At the same time, healthcare contributions are to be reduced from 12.3 to 10.3 percent.

Photo Tanjug/Z. Zestic (Archive)