July 4 (SeeNews) - The government of Bosnia's Serb Republic said on Thursday that it has decided to raising pensions by 2%, with effect from July 1.
The decision will result in an additional budget expenditure of 1.4 million marka ($807,126/715,809 euro) per month, or 8.5 million marka in total by the end of 2019, the government said in a statement after its regular weekly meeting.
It did not say whether the decision will entail a budget revision.
Following the hike, the lowest monthly pension in the Serb Republic will increase to 195.74 marka. The average pension is 379.72 marka.
The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 195583 marka)