Vucic: “The state will continue paying out 60% of the minimum wage for two more months”

The state will pay 60% of the minimum wage to all employees of micro, small and medium enterprises in July and August, while the payment of payroll tax and contributions will be postponed by another month and we will launch a new project, called “My First Salary” – Serbian President Aleksandar Vucic said, announcing new measures aiming to suppress the economic crisis caused by the coronavirus pandemic.

Vucic also said that he had talked to the governor of the National Bank of Serbia (NBS), Jorgovanka Tabakovic, about an additional moratorium on payment of loans for individuals and companies alike, for at least another two months.

He pointed out that the state had enough resources to directly help the economy and further strengthen it, especially small businesses such as hair salons, footwear manufacturers, or producers of furniture.

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“We will give 60% of the minimum wage to all their workers for two months, July and August. For three months, we paid a full minimum wage to companies, and now for another two we will pay 60%,” Vucic said on RTS.

He went on to say that the state would allow deferral of payment of payroll tax and contributions by at least another month, although, as he points out, that will cost the state EUR 300 million.

Vucic also announced the launch of the My First Salary project, which entails the state paying RSD 20,000 per employee to companies if they employ a high school graduate and RSD 24,000 for a university graduate per month for nine months.

Vucic points out that the state’s goal is for the public debt to stay under 60-61% of the GDP and adds that the measures are designed to support this.

(Vecernje Novosti, 23.07.2020)

https://www.novosti.rs/vesti/ekonomija/904190/predsednik-najavio-ekonomske-mere-drzava-placa-60-odsto-minimalca-jul-avgust

 

 

This post is also available in: Italiano

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