New Economy Stimulus Measures – 60% Minimum Wage for July and August, Tax and Contribution Payment Postponed by Another Month

The state will pay 60% of the minimum wage to all entrepreneurs and employees of micro, small and medium enterprises for July and August, the payment of taxes and contributions will be postponed by another month and we will launch a new project, “My First Salary”, Serbian President Aleksandar Vucic said, announcing new measures aiming to suppress the economic crisis caused by the coronavirus pandemic.

Vucic also said that he had talked to the governor of the National Bank of Serbia (NBS), Jorgovanka Tabakovic, about an additional moratorium on the credits, under certain conditions, for individuals and companies alike, for at least another two months.

He pointed out that the state had enough resources to directly help the economy and further strengthen it, especially enterprises such as hair salons, footwear manufacturers, or producers of furniture.

– We will give 60% of the minimum wage to all their workers for two months, July and August. For three months, we paid a full minimum wage to companies, and now for another two we will pay 60% to each – Vucic said on RTS.

He says that the state will postpone the payment of taxes and contributions by at least another month, although, as he points out, it will cost the state EUR 300 million.

Vucic also announced the launching of the “My First Salary” project, which entails the state paying RSD 20,000 per entrepreneur for the employment of a high school student and RSD 24,000 for a university graduate for nine months.

Vucic points out that the state aims for the public debt not to exceed 60-61% of the GDP and adds that the measures are designed so as to avoid this.

Aleksandar Vučić

coronavirus

aid to economy

economy stimulus package

new economy stimulus package

minimum wage

60 per cent minimum wage

taxes and contributions

postponement of payment of taxes and contributions