Serbia to freeze public sector hirings for two years from Jan 1 - media

Public sector wages exceeding 60,000 dinars ($720.6/523.1 euro) will be cut by 20% while those above 100,000 dinars will be slashed by 25%, news agency Beta reported.

According to the media, employment costs in Serbia's public sector are equivalent to over 3.0% of the country's gross domestic product or around 900 million euro ($1.24 billion) on an annual basis.

Serbia's public sector employs 5.0% to 10% more workers per 1,000 population compared to countries in the region with civil servants outearning their private sector counterparts by 35%, Beta added.

(1 euro=114.6924 Serbian dinars)