Serbia's Prime Minister Aleksandar Vucic (L) shakes hands with China's Premier Li Keqiang during the World Economic Forum's annual meeting of the New Champions in Tianjin September 10, 2014. REUTERS/Wang Zhao
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Serbia's prime minister announced long-awaited pension and public sector pay cuts on Thursday, hoping to curb a budget deficit of over 8 percent of output and convince the IMF to agree a new loan deal.In a lengthy interview on state television, Aleksandar Vucic said public sector salaries of over 25,000 dinars (211 euro) per month would be cut by 10 or 10.5 percent, the precise figure to be specified in a revised budget expected before parliament next week.Serbia's Fiscal Council, the government's chief economic advisory body, had called for 15 percent cuts to both pensions and public sector wages, which Vucic said would be too painful.
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