Mali: Salaries to go up 12.5% in January, minimum wage to exceed 40,000 dinars for the first time

Photo: Nikola Andjic

Finance Minister Sinisa Mali has announced that wages in the public sector will be increased starting next year, according to current projections by 12.5 percent, as well as that the minimum wage from January 1 could for the first time be higher than 40,000 dinars.

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"Salaries for military personnel, officers, non-commissioned officers and soldiers under contract will be increased by as much as 25 percent. Also, negotiations are underway with representatives of employers and trade unions, and we hope that the minimum wage from January 1, 2023 will be over 40,000 dinars for the first time," said Mali.

The minister of finance told Srpski Telegraf that pensions will increase by more than 20 percent, with November and January payments.

"One of the biggest challenges will be to draw up a good, balanced budget, suitable for the crisis we are in. We are already working on it," Mali said.

He added that the challenge in the coming period will also be the tightening of monetary policy at the global level.

"This makes it difficult to finance growing fiscal deficits. That is why our main goal is to keep the deficit as much as possible within the projected framework. The medium-term fiscal framework envisages a gradual reduction of the general deficit to the level of 0.5 percent of GDP by 2025 and a decrease in the share in the public debt to 50.7 percent of GDP," Mali said.

He stressed that the new government will devote a lot of attention to the reform of public companies, which he said must respect the needs of citizens.

(Telegraf Biznis)