Salaries stagnating for a decade

The average salary in Serbia is 422 euros and is among the lowest in the region.

This data was recently published by Demostat, and their research shows that, out of all neighbouring countries, only Macedonia and Albania have lower salaries than us, slightly above 370 euros. The authors of the Quarterly Monitor, a publication issued by the Faculty of Economics, has recently dealt with this issue and obtained the same result.

In 2017, the average salary in Serbia amounted to 404 euros, and again only the Albanians and Macedonians earned less than us.  Also, the real salary growth, from 2009 to 2017, was less than one percent, according to data from the Quarterly Monitor.

What is even more worrying is that this economic bulletin states that “in the crisis and post-crisis period, from 2009 to 2017, real average net wages stagnated.” The analysts cite specific data according to which real wages over the past decade have grown just under one percent. This means that wages, when reflecting the impact of inflation, grew negligible 0.07 percent a year.

The answer to the question why there was no improvement when it comes to living standards is very simple – during the past decade there was no economic growth. In other words, only in 2017, Serbia recorded the growth of the domestic product (GDP). The last time the Serbian GDP grew was in the pre-crisis period, in 2008.

(Politika, 28.05.2018)


This post is also available in: Italiano

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