Ministry of Finance: No Extraordinary Minimum Wage Increase

Representatives of the Government of Serbia, representative trade unions and the Serbian Association of Employers, which are members of the Social-Economic Council (SEC), will start negotiations about the new minimum wage today.

The talks were initiated by two representative trade unions – the United Branch Trade Unions “Independence” (“Nezavisnost”) and the Confederation of Autonomous Trade Unions of Serbia (SSSS), which hope that there could be an extraordinary minimum wage increase this year, due to the growth of the inflation.

Their proposal is for the minimum wage, which now amounts to RSD 40,020, to be equalized with the minimal consumer basket, which has exceeded RSD 50,000.

The Ministry of Finance has made a statement regarding the trade unions’ position and said that the increase of the minimum wage is done once a year, so the new minimum wage will be in effect from January 1 next year.

Last year, in September, the Government of Serbia decided for the minimum wage to be increased 14.3% to RSD 40,020 for 2023.

According to the trade unions’ estimates, around 350 to 400 thousand people in Serbia are paid minimum wage, whereas slightly over 50% of the employees work for around RSD 60,000.

Vlada Republike Srbije

UGS Nezavisnost Beograd

Savez samostalnih sindikata Srbije

Unija poslodavaca Srbije

Ministarstvo finansija Republike Srbije

Socijalno-ekonomski savet Republike Srbije Beograd

Government of Serbia

United Branch Trade Unions Independence

Nezavisnost

Confederation of Autonomous Trade Unions of Serbia

SSSS

Serbian Association of Employers

Ministry of Finance

Social Economic Council

SEC

minimum wage

minimum wage increase

minimum wage for 2024