The negotiations between the Serbian government, the Union of Employers of Serbia (UPS) and the Union of Independent Trade Unions of Serbia (SSSS) on increasing the minimum wage in 2024 began yesterday.
At the meeting, the trade unions remarked as to why they did not receive in writing the reason why the minimum wage was not increased once again this year. Only the Social and Economic Council was informed that there wouldn’t be a minimum wage increase because inflation is 14.3%.
At the meeting, the representative of the Ministry of Finance said that the circumstances were unfavourable and because all the previous predictions about inflation growth came true so the only time when the increase in minimum wage could be possible would be next year.
Although no concrete proposals were made at the meeting, the Ministry of Finance still announced that the increase in the minimum wage will be double-digit and that the non-taxable part of the wage will also go up, to the benefit of employers.
“We agreed that the second meeting will be held on Friday, August 25, at which we will come up with more concrete proposals. The increase should be double-digit, although there is no basis for it because the economic indicators do not speak in favour of such a decision, that’s what is going to be proposed. We, from the Union, are waiting to see what the largest employer, that is, the state, will offer, and based on that, we will consider whether that proposal suits the majority or not,” honorary president of the Union of Serbian Employers (UPS), Nebojša Atanacković, said.
Before the start of negotiations on the minimum wage, the Federation of Independent Trade Unions of Serbia (SSSS) had published an analysis titled “Profits, wages and pensions in the Republic of Serbia”, which indicates low growth rates of gross domestic product (GDP) and industrial production last year, as well as a reduction in real wages and pensions and particularly high growth of profit in the business sector.
(Biznis.rs, 21.08.2023)
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