Minimum wage to be increased

IMPACT – MEDIUM

The Serbian government has announced that it will increase its monthly minimum wage by 14.3% in Jan. 2023.

Key Points:

• Beginning Jan. 1, the minimum wage will increase from 201.22 RSD per hour to 230.00 RSD per hour.
• The new average minimum salary in 2023 will be 40,020 RSD per month.
• The new minimum wage will be applicable to those starting work on Jan. 1, 2023.

Additional Information: Serbian migration authorities continue to evaluate minimum wage levels and may adjust the wage requirement again before the New Year.

BAL Analysis: Businesses may see a slight increase in labor costs once the new minimum wage takes effect. Employers should take the new wage minimums into account and adjust their budgets if necessary. BAL will provide updates on salary minimums for foreign workers as information becomes available.

This alert has been provided by Berry Appleman & Leiden. For additional information, please contact berryapplemanleiden@bal.com.

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