Consumer basket in Serbia: Is 60,000 dinars really enough?

According to the latest data, an average household in Serbia has an average monthly income of 60,011 dinars, while consumer associations argue that at least twice that amount is needed for a decent life. They also estimate that the living standard in 2017 will not change much compared to 2016.

An average Serbian family spends most of its income on food and drink, 35% of it. An average Serbian citizen has only 232 dinars a day (or less than 2 EUR) available to spend on food and drink.

An average Serbian family with three members lives in a two-bedroom-50-square-metre apartment and drives a car that is 15 years old. They spend 8,500 dinars a month on water, heating and rubbish disposal, 5,000 dinars on electricity, 7,000 dinars on phone, cable TV and internet bills, and another 7,000 dinars on public transportation. If your car uses 8 litres of petrol per 100km and you cover 10,000km annually, and bearing in mind the current price of fuel, registration and service, you spend 13,000 dinars a month more.

“Consumers are social beings and they also like going to theatre and cinema, on vacations. And, according to our calculations, all of that costs at least 120,000 dinars”, says the president of the National Consumer Association of Serbia, Goran Papovic.

“Considering that the average salary will grow between 4% and 5%, and that the inflation rate will stand between 2% and 2.5% that would mean that the living standard would also grow between 2.5% and 3% which coincides with the industrial production growth in Serbia this year”, economics expert Goran Nikolic explains.

However, the above calculation of living costs still does not include things like education. According to the relevant data, an average Serbian citizen has only 7.5 dinars a day to spend on education.

(RTS, 09.02.2017)

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