Starting today: Emergency Increase of Minimum Wage and Salaries; Pensions to Rise from December 1

Mali stated that since the beginning of the year, salaries in education have increased by 11 percent, recalling that the first extraordinary increase of 5 percent took place on March 1.

“Now another 5 percent, and there will also be an increase starting January 1 next year. Altogether, these three increases in just this year amount to 22.4 percent. So, a 22.4 percent increase in teachers’ salaries only in this year. Considering that average inflation this year is around 4 percent, this is a significant pay rise in education,” Mali said.

He noted that with this latest increase, salaries for education staff with a seventh-level qualification – that is, teachers in primary and secondary schools – will exceed 106,000 dinars.

Mali added that the average salary of a nurse will exceed 90,000 dinars, while the base salary of a specialist doctor, without additional payments, will surpass 170,000 dinars.

“The essence of our policy for years now has been to raise the living standards of Serbian citizens, to ensure that those who need increases the most actually receive them, and in this way we are delivering on that,” Mali emphasized.

He pointed out that, according to the latest data from July this year, the average salary in Serbia is €931, compared to around €300 in 2012. He also stressed that by December this year, the average salary across Serbia will exceed €1,000.

“We expect it to be around €1,022. Despite all global challenges, conflicts, tariffs, trade wars, as well as blockades and tensions we have faced domestically, the state demonstrates stability, the strength of its public finances, and delivers salary growth,” Mali said.

Regarding the minimum wage, Mali explained that in addition to the extraordinary 9.4 percent increase, a regular increase of 10.1 percent has been agreed with trade unions and employers starting January 1 next year.

He recalled that on January 1 this year, the minimum wage was increased by 13.7 percent.

“This extraordinary increase brings it to €500, while the regular increase from January 1 next year will raise it to €551. Cumulatively, this represents a 37 percent increase. Never in history has the minimum wage risen by 37 percent within a single year,” the minister noted.

He emphasized that there are sufficient funds in the state budget to support this, while the government continues to respect fiscal rules so as not to endanger macroeconomic stability.

Mali stated that the share of public debt in GDP is currently around 44 percent, while the eurozone average stands at 88–89 percent.

“We are keeping public debt under control, and at the same time we are doing everything to show care for the people, focusing on what matters most to them, trying to respond to challenges in that way,” Mali said.

He added that as of December 1, pensions will be increased by 12.2 percent. Minister Mali also announced that in October, 50 percent of tuition fees will be refunded for every student, and that this refund will be paid through student cards.