Serbian President Aleksandar Vučić has announced a series of economic measures aimed at improving the financial situation of citizens in the coming months. In a public address from the Palace of Serbia, he revealed that pensioners will receive an early Christmas bonus with their pensions being increased by 10.9 percent. These increases will be delivered four days earlier than usual, on Christmas Day.
The President also highlighted that starting from January 2024, the minimum wage will rise by 13.7 percent, marking the highest increase in the country’s history. This wage boost is expected to have a significant impact on workers across Serbia. Additionally, salaries in the public sector will increase by 8 to 11 percent, while discussions are still ongoing regarding salary increases for employees in the education sector.
Vučić outlined expectations that the average pension in Serbia next year will reach approximately 437 euros, with the average salary projected to be around 920 euros. By the end of 2024, salaries are expected to rise further to around 1,022 euros. He also emphasized that the goal is for the average salary to hover around 925 euros in the coming year.
While Vučić acknowledged that salaries in the education sector did not rise at the same rate as in other public sectors, he assured that they would work on addressing these disparities. He recognized the importance of fairness and admitted that the education sector deserved attention regarding salary increases.
The President also reiterated his commitment to improving youth opportunities in the country. He emphasized that the youth program, which has seen rapid growth, is a top priority, and expressed hope that it would continue to expand. He set an ambitious goal, suggesting that instead of 5,500 young people benefiting from the program, there could be as many as 55,000 participants in the near future. Vučić underscored the importance of the guarantee scheme for youth and called for full implementation of the program.
Lastly, Vučić addressed the banking sector, urging the National Bank of Serbia (NBS) Governor Jorgovanka Tabaković to apply pressure on banks to support these economic measures, particularly concerning loans and financial guarantees for young people. Vučić pointed out that banks in Serbia have been thriving and expressed that it was crucial for them to contribute to the country’s growth by participating in these financial initiatives.
These new economic measures signal the government’s ongoing commitment to improving the economic standing of Serbia’s citizens, especially pensioners, young people, and public sector workers, as the country prepares for the year ahead.
