Agreement reached on increasing minimum wage to EUR 1.2

The minimum labor cost in Serbia will be increased to RSD 143 (EUR 1.2) per hour, starting in 2017.

This is according to the president of the Serbian Association of Employers, Nebojsa Atanackovic.

After the meeting of the Socio-Economic Council of Serbia on Tuesday, Beta reported that agreement has been reached to increase the minimum wage be by ten percent, while employers will not face any increase in the tax-based cost.

"Finance Minister Dusan Vujovic has promised that after the increase in the minimum wage employers will not have a higher cost, he explained that it is impossible to increase the minimum wage by more than ten percent because it would undermine next year's budget," said Atanackovic.

The session of the body that began this morning was not completed within the expected time, so the announced press conference, where the increase was to be...