Serbian President Aleksandar Vučić announced a 12.2% pension increase starting December 1, raising the average pension to €485.
He noted that last December pensions rose by 10.9%, resulting in a cumulative increase of 24.4% compared to November. The government calculated pension affordability relative to GDP and determined the possible increase.
Vučić projected inflation at around 3.5% next year and 4% this year, stating that pensioners will see a real increase in living standards despite inflation.
He also highlighted the minimum wage increases: a 9.4% rise from October 1, a further 10.1% from January 1, resulting in a cumulative 37% increase compared to December 2024. From January, the minimum wage will be €551, covering 111.5% of the minimum consumer basket.
