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Belgrade – Finance Minister Siniša Mali said data on the average salary of 510 euros in July indicates that the way has been paved towards a higher evaluation of human work in Serbia.
Source: B92
Photo: Tanjug, Zoran Zestic
Mali stated that the data announced by the Office of Statistics of the Republic, that the average salary calculated in July exceeded 510 euros for the first time in Serbia, indicates that, slowly but surely, a path towards greater evaluation of human work in Serbia. Serbia’s economy remained resilient and vital in the conditions of the pandemic.
“The average salary of 60,029 dinars is a new framework in which we operate and is a serious confirmation that the Serbian economy has remained resilient and vital, and that in the conditions of crisis and pandemic it has remained strong and moving forward. I will remember that a few years ago “The average salary was 320 euros, so these new data show the correctness of our economic policy. When this is followed by record unemployment, it is clear that our policy is aimed at the welfare of all citizens of Serbia, “said the minister.
According to him, the expectations are that the increase in the minimum wage of 6.6 percent, the non-taxable part of the income from 16,300 to 18,300 dinars, as well as the planned reduction of the payroll tax, will affect the additional growth of wages. .
“Two years ago, the burden on wages was 63 percent, and now it is 61.2 percent. Our policy is to reduce the burden on wages, but of course according to the possibilities and the fiscal space available.” Mali said, adding that he is aware that the tax burden on wages remains high, but is convinced that higher economic growth in the future will create the conditions for further reductions.
Mali noted that the Government of Serbia is committed to preserving the standard of living of the population and is therefore working rapidly to attract investment and create a stimulating regulatory framework that provides equal opportunities for all.
The government, he says, is well aware that social inequalities are still present in society and change in this area is one of the important points on the agenda for the future.
“For the first time in history, as a State, we intervene from the budget and directly support businessmen with a package of 5.8 billion euros. In this way, we relocate, that is, a fairer redistribution of public funds, to help the private sector. Now it has not happened, we have shown that for us there are no first or second order citizens, but that they are all our citizens, we care that everyone is better, but on the other hand everyone contributes to the community in their own way and takes advantage of opportunities to it raised the economy and the quality of life, “Mali explained.
Mali notes that Serbia is full of potential, for others to see now, such as the US International Development Finance Corporation (DFC), which recently arrived in Serbia, but that an effort must be made to “unlock” that potential.
“It was recently announced that Serbia is at the top of our region according to the World Bank’s Human Capital Index (HCI), which measures the development of human capital in the world. This means that a child born in Serbia today will have 68% productivity if they complete their education and be in good health, “Mali said, adding that this is actually the legacy we want to leave to young people: that they appreciate and pay more for their work.
Mali said he was convinced that the plan according to which the average salary in 2025 in Serbia would be 900 euros and the average pension of 430 would be fully achievable.
“If in 2018 we achieve a war rate of 4.4 percent, and in 2019 of 4.2 percent, and this year, which are our expectations, due to the pandemic, we will remain at zero and we will not have any decrease in GDP, it is clear that we will not have indicators that drag wages down, “said Mali, adding that it is a kind of success, taking into account the information coming from the environment that the planned wage reduction is greater than 20 percent .
The Minister said that at the year-round level, wages in Serbia will have real growth and that economic growth is expected to accelerate next year.
He also noted that the unemployment rate of 7.3 percent in the second quarter of this year is proof that economic measures have contributed to the preservation of working months, despite the difficult conditions caused by the coronavirus pandemic. .
Mali also recalled that reforms of labor law regulations made work flexibility a reality in the economic life of Serbia, and that they also contributed to further fluctuation of the labor force within the economy, which also had a impact on wages.
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