Minister of Labor and Social Policy Rasim Ljajic said in a meeting with a delegation of the IMF that he expects a social insurance law to be passed by the end of the year and that RSD 4 billion are needed to implement it fully.

With the delegation led by head of the IMF mission to Serbia Albert Jaeger, Ljajic discussed the changes contained in the new social insurance bill, the minister's office released in a statement.

Ljajic pointed out that "the normative act will introduce a series of services fully harmonized with European and international standards, determine the criteria for expanding the number of social insurance beneficiaries, as well as ensure better targeted distribution of social aid."

Jaeger also inquired about the dynamics of implementing a RSD 1.5 billion social aid package for the poorest segments of population, which was discussed during the IMF delegation's previous visit to Serbia.

Ljajic explained that part of the funds in the package has been allocated while the rest will be located in the budget rebalance.

On Thursday, the IMF delegation continued the fifth review under Serbia's stand-by credit arrangement.