The International Monetary Fund (IMF) has praised the Government for taking “courageous steps” to reform the National Insurance System (NIS), saying the measures could extend the pension fund’s sustainability by 15 years.
“IMF staff welcomes the authorities’ courageous steps taken to improve the long-term sustainability of the public pension system. The country faces the twin pressures of a rapidly aging population that increases expected pension and healthcare costs and an aging energy sector that limits the potential for future revenue growth to cover these costs,” the IMF stated.
