Serbian Finance Minister Diana Dragutinovic said Thursday that the technical talks with the International Monetary Fund (IMF) finished Thursday with the terms of the sixth review under Serbia's Stand-By Arrangement finely defined, and announced that the government should pass the 2011 budget bill by December 15 at the latest.

Dragutinovic told reporters at the parliament that the 2011 budget bill will conform to the agreement made with the IMF and that the amendments to the Law on Pension and Disability Insurance will go back before the parliament by December 15.

Two changes have been made to the amendments - a guaranteed minimum pension of 27 percent of the average salary, and delaying the reduction of the positive discrimination for women when it comes to the retirement age until 2013.

She announced that two working groups will be formed to decide which professions qualify for early retirement, as well as the protection of pensions of the average pensioners as well as those who retired after full years of service. Dragutinovic noted that in the technical talks, the IMF approved a budget deficit of four percent of the GDP.