Sinisa Mali (BETAPHOTO/MILOS MISKOV/MO)
Finance Minister Sinisa Mali on Sept. 13 said that as of January next year, the minimum wage would be RSD230 per hour, or RSD40,020 on a monthly basis.
After a meeting of the Social and Economic Council of Serbia, which discussed a minimum wage in 2023, Mali said that the increase of 14.3 percent would be the biggest thus far. He added that such a decision had been made in order ensure macroeconomic stability.
Mali also said that staring Jan.1 next year, nontaxable amount of income would be RSD20,712, while contributions for pension and disability insurance would be reduced by one percentage point. He added that the inflation in 2023 would be around 8.7 percent, noting that a wage hike would partially cover the inflation increase.
The finance minister also announced a fresh assistance package to citizens in the coming period. He stressed that pensions would go up by nine percent as of Nov. 1, and 12.1 percent as of Jan.1, 2023, while public sector salaries would grow by 12.5 percent.
Mali further said that the average wage next year would be EUR706, adding that the government was aiming for an average pay of EUR1,000 by the end of 2025.
The president of the Confederation of Autonomous Trade Unions of Serbia, Ljubisav Orlovic, has said that the minimal consumer basket, which was purchased on Sept. 12 and presented outside Palace Serbia on Sept. 13 stood at over RSD50,000, stressing that the minimum wage could not cover its cost. “When you take a look at the minimal consumer basket, it is humiliating as bread accounts for its biggest portion. In that basket, RSD128 is intended for education which can buy 1.5 school notebook,” Orbovic specified.
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