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PODGORICA (Montenegro), May 24 (SeeNews) - Montenegro's government has approved an increase of the minimum monthly wage to 222 euro ($248.4) from 193 euro as of July 1, labour minister Kemal Purisic said.
The finance ministry is also preparing an amendment to the Law on Contributions for Compulsory Social Insurance to reduce by two percentage points health contributions paid by employers, Purisic said on Thursday in a video file posted on the YouTube channel of Montenegro's government.
Both regulations come into force at the same time, as employers will be compensated for the increased costs resulting from the introduction of the higher minimum wage, Purisic said.
The new minimum monthly wage is equivalent to 43% of the average salary in Montenegro, he added.
The average net earnings in Montenegro amounted to 510 euro in March, down from 514 euro in February.
($ = 0.8938 euro)