Bosnia's Serb Republic ruling SNSD party mulls public sector wage hike as of 2020

Under the proposal, the minimum wage will increase to 500 marka ($280.5/255.6 euro) as of January 1, SNSD's leader Milorad Dodik said in a statement on the party's website on Thursday.

In addition, wages that currently amount to 500 marka will be increased by 20%, those ranging between 500 and 1,000 marka will rise by 10%, those of 1,000-1,800 marka will go up by 7%, while current wages of more than 1,800 marka will see a 5% increase, Dodik said.

The planned measure will require an additional allocation of 70 million marka in the Republic's 2020 budget, he added.

Earlier this year, the Republic's government hikes pensions by 2% as of July 1, resulting an additional budget expenditure of 1.4 million marka. Following the hike, the lowest monthly pension rose to 195.74 marka, with the average one reaching 379.72 marka.

The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Serb Republic.

(1 euro = 195583 marka)