The lowest salary in the Federation increased by 9.85 percent
The Government of FBiH today adopted a Decision establishing the lowest salary for the period from January 1 to December 31, 2023 in the net amount of 596 KM, which represents an increase of 9.85 percent compared to the lowest salary established for 2022.
This decision enters into force on the following day from the day of its publication in the Official Gazette of the Federation of Bosnia and Herzegovina.
In the explanation of the decision, it is stated that the method of determining the minimum wage, adjustment and the deadline for adjustment are prescribed by the Regulation on the methodology of calculation and adjustment of the minimum wage. According to this regulation, the adjustment is made in the sum of 50 percent of the increase in consumer prices and 50 percent of the increase in the gross domestic product in the Federation for the period January – September, according to the data of the Federal Bureau of Statistics. Based on the data provided by the Federal Bureau of Statistics, consumer prices in the FBiH increased by 14 percent, and the real growth of the gross domestic product was 5.7 percent. Accordingly, the lowest salary for the period from January 1 to December 31, 2023 was determined in the net amount of 596 KM, which represents an increase of the lowest salary by 9.85 percent compared to the lowest salary established for 2022.