July 18, 2014 / 9:32 AM / 3 years ago

Serbia reforms labour, pension laws as part of promised overhaul

BELGRADE, July 18 (Reuters) - Parliament in Serbia adopted long-awaited legislation on Friday liberalising the labour market and raising the retirement age for women, the first in a raft of reforms designed to cut spending and attract investors.

The government is expected to move quickly to push through new legislation on bankruptcy and privatisation, as the basis to begin the restructuring of dozens of loss-making state-run firms.

Serbia, a candidate to join the European Union and the most populous of the former Yugoslav republics, is racing to cap a consolidated budget deficit seen at 8.5 percent of national output, ahead of loan talks with the International Monetary Fund expected later this year. (Reporting by Ivana Sekularac and Aleksandar Vasovic; Editing by Matt Robinson)

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