Monday, 22 October 2018 | News today: 3

IMF: Mandatory retirement age must be raised

The mandatory retirement age in Macedonia is lower than the average in Europe, the International Monetary Fund writes in the recommendations for the country’s economy. The IMF recommends that mandatory retirement age must be raised, and changes to laws that allow early retirement to be made.

The IMF warns that the unemployment rate in Macedonia of 23% is among the highest in Europe, and therefore recommends education reforms because the unemployed are mostly unqualified.

Macedonia has the lowest rate of women in the labor force in Europe, the IMF adds.