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Reading: BiH has been in Europe for a long Time, but only due to Prices and chain Price Increases
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Sarajevo Times > Blog > BUSINESS > BiH has been in Europe for a long Time, but only due to Prices and chain Price Increases
BUSINESS

BiH has been in Europe for a long Time, but only due to Prices and chain Price Increases

Published: July 6, 2024
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We have been in Europe for a long time, but with prices. Announcements about a new increase in fuel prices, as well as an increase in the price of electricity from August 1, worried the citizens of our country. Many believe that, in addition to more expensive fuel and electricity, there will also be a chain increase in the prices of other products. Is a new wave of price increases ahead?

With European prices and domestic salaries, for the citizens of our country this has become the main motto for survival. With the announcements of a new increase in the price of fuel and an increase in the price of electricity, they are worried that there could be another chain price increase in other products as well.

In the vicious circle of price increases, the formation of prices at will, and monthly incomes of citizens that do not follow the rise in prices – according to everything, a difficult autumn awaits us.

Almost three thousand marks, is the amount of the consumer basket for the month of April, while pensions, although they have been increased in recent months, cannot can catch the extremely fast train of price increases.

Increases in pensions, such as occurred in the past period from 10 to 50 marks, will mathematically hardly cover the already modest needs of pensioners. Although the associations that represent them do not give up the methods of adequate assistance, apparently there is no money in the entity budgets for such needs, at least for now.

Although we talk about price increases almost every day, it is impossible to reach them. According to the latest available data, which refer to the month of April 2024, the consumer basket amounted to a dizzying 2950.10 marks. Unattainable even for those who, according to BiH standards enjoy a luxurious salary.

And now imagine that with 573.53 marks, which is the minimum pension in the Federation, you have to survive for a month. Buy medicine, pay taxes, and obviously what’s left for food. Even pensioners in the Republika Srpska with a minimum pension of 601.35 marks do not enjoy a better position.

Two federations of pensioners’ associations in the Federation of Bosnia and Herzegovina held a meeting with Prime Minister Nermin Nikšić in recent days.

They say that they came out with demands for a better financial position of pensioners, but that they have not been adopted so far. Pensioners in Republika Srpska also hope for an extraordinary increase in pensions by the end of the year. Both entity governments expressed their readiness to find the best possible solutions, BHRT writes.

HASO HALILOVIĆ, Association of Pensioners FBiH

“The first conclusion is that the payment of a one-time financial aid will be provided by rebalancing the budget, that we will agree on the amount in the following talks. The second conclusion is that the budget rebalancing will provide increased funds in the amount of one million marks for the rehabilitation of pensioners.”

Economists have long been pointing out the illogicality of price increases that have befallen Bosnia and Herzegovina’s citizens, and which pensioners feel the most.

ZORAN PAVLOVIĆ, economist

“The weight of the economic situation, I would say management and companies and authorities must share with citizens, because it is not right that citizens have to pay for everything, and that those in high positions in management have very high salaries and benefits.”

According to Zoran Pavlović, the citizens cannot be the only ones who will bear the burden of rising prices on their backs. He blames everything on the ruling policies that did not come up with an adequate solution.

– “This is a fight for survival. They have no choice but to dig through the containers and search.”
– “What you need is bought by the gram, from day to day.”
– “Money is not important. No matter how much money you get, it is not enough for you.”
– “Pensioners are really the most vulnerable category.”

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