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AS OF THE NEW YEAR, THE MINIMUM WAGE IN SERBIA WILL INCREASE BY 6.6 PERCENT

16. September 2020.

As of the New Year, the minimum wage in Serbia will be higher by 6.6 percent, and instead of the previous 30,022 dinars, it will amount to 32,126 dinars. That is 2,000 more than before, so an hour of the simplest work in 2021 will cost 183.9 dinars instead of 172.5 dinars.

This is a decision of the Government of the Republic of Serbia, since no agreement was reached between the social partners.

For Sinisa Mali, the Minister of Finance, the increase of the minimum labor price by 6.6 percent is aimed at maintaining employment at the current level as much as possible.

“We had a very difficult but constructive dialogue. The views of the unions and employers are always opposed, but it is the Government that makes the final decision. Despite the economic crisis, we decided to increase the minimum wage, because we believed that it wass important in order to preserve the real living standard of the citizens. Since inflation is 1.5 percent, with an increase of the minimum wage by 6.6 percent, the real increase will be 5.1 percent," Minister Mali said.

Minister Mali also said that as of January 1, 2021, pensions would be higher by 5.9 percent based on the Swiss formula, adding that that was a large real increase.

Source: RTV Rhythm and Coordination Body