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The Government of the Republic of Serbia

In the service of citizens

Minimum wage as of next year RSD 47,154

Belgrade, 7 September 2023

Deputy Prime Minister and Minister of Finance Sinisa Mali said today that the Serbian government, at the session to be held on 14 September, will adopt a decision on the minimum wage, which will amount to RSD 47,154 from 1 January 2024 and will be higher by 17 .8 percent compared to this year.

Speaking at a press conference, which was held after the session of the Socio- Economic Council, Mali explained that this decision means that the minimum hourly wage will be increased from RSD 230 to RSD 271.

He emphasised that this is an increase in the minimum wage that has never been higher, and that, if inflation projections for the next year are taken into account, the increase of the minimum wage for the next year will be 13 percent in real terms.

In terms of percentages, it is the largest increase in the minimum wage so far and in euros it amounts to around €401. For the first time, we are going to the minimum wage level above €400. That minimum wage will be applied from 1 January of the following year, specified the Deputy Prime Minister.

Mali recalled that the government increased the minimum wage by 14.3 percent this year, and that the average inflation during this year will be at the level of 12.5 percent.

According to him, in order to relieve the burden on the economy, the policy of relieving the minimum wages when it comes to taxes and contributions continues, and as of 1 January, the non-taxable part of the income will increase from the current RSD 21,712 to as much as RSD 25,000.