Hundreds of Serbian pensioners rallied in Belgrade on Thursday to protest austerity measures introduced as part of a 1.2 billion euro ($1.41 billion) loan deal with the International Monetary Fund. Chanting “thieves” and carrying banners reading “we are hungry”, the pensioners demanded that the government and Serbia’s constitutional court annul austerity cuts imposed in 2014 and refund lost pension payouts. To secure the deal, in late 2014 it lowered public sector wages and pensions by between five and 25 percent. About 1.7 million of Serbia’s 7 million citizens are retirees and the government spends 13 percent of GDP on pensions, World Bank data show. Pensioners were also slated to receive a one-off payment of up to 6,000 Serbian dinars ($59.38) in 2017.

Source: Egypt Independent October 26, 2017 13:07 UTC