In the world of the 21st century, the number of people living without electricity in their homes is 1.3 billion. Even among those who have access, many do not own basic assets such as refrigerators, motorized transport, or washing machines. However, it is anticipated that over the next several decades, wide-scale poverty alleviation programs, as well as continued economic growth, will lift the incomes of many of the world’s poor. As incomes increase, families formerly living in poverty will for the first-time purchase energy-using assets.

How will the global demand for energy rise as a consequence? To answer that question, Dr. Alan Fuchs, Senior Economist in the Poverty and Equity Global Practice of the World Bank, made a presentation at ISET on October 5th.

On September 27, 2017, the first assessment of Pension Reform was conducted, within “ReforMeter”. Based on the Government Survey, 38.8% of the reform is already implemented. At this stage, the reform concept is elaborated and approved by the Government. In October, the draft law will be publicly available. The pension fund functions and obligations are formulated. The regulatory body is defined. Pension system operating rules are designed.

The reform was also evaluated by the reform stakeholders. They underlined that the reform concept was changed many times, and the last version is not still available. Hence, they were not aware of the final concept of the private pension savings (II Pillar) system, as well the indexation mechanisms of social pensions. According to the Ministry of Economy, the draft law on private pension savings will be published the first week of October.

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