A social agreement between the government, unions and employers that ensures that the minimal wage in Serbia will be RSD 102 per working hour from June until December will be signed tomorrow in the Serbian government building, President of the Autonomous Trade Unions of Serbia Ljubisav Obrovic announced.

According to the agreement Serbia will have to pay RSD 500mn from its budget for the recovery of economic activities and the increase in the living standard. It will be signed by Serbian Prime Minister Mirko Cvetkovic, President of the Serbian Association of Employers (SAE) Nebojsa Atanackovic, President of the Autonomous Trade Unions Obrovic and President of the United Unions "Independence" Branislav Canak.

Based on the agreement of the council's members - the government, the SEA, the autonomous union and the "Independence" Union - the minimal income from June until December will be RSD 17,748.

According to the agreement the government should invest in prioritization areas in the amount of RSD 35.4bn and approve over RSD 17.7bn of loans from the Development Fund, as well as further RSD 4.6bn for creating new jobs for domestic and foreign employers.

Obrovic said that the social agreement would lead to an increase in the employees' standard in Serbia. He estimated that thus the minimal wage would increase by approximately 8 per cent (from RSD 95 to RSD 102 per hour), which would eventually lead to an increase in the standard.