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Sarajevo Times > Blog > BUSINESS > Locked Food and Electricity Prices for Citizens of the Federation of BiH
BUSINESS

Locked Food and Electricity Prices for Citizens of the Federation of BiH

Published: December 12, 2023
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There will be no increase in the price of electricity for the population, while it is limited to 20% for employers.

With the decision on the price of electricity, Elektroprivreda is not guaranteed to make a profit, and the Government has assumed greater responsibility.

“To give up part of the profit, if in this way Elektroprivreda does not make that profit, and to limit the increase in the price of electricity for our employers to 20%, for households that price remains at the level it is currently”, said the Prime Minister of FBiH, Nermin Nikšić.

“The decision aims to protect customers who are supplied with electricity as part of the market supply service from extreme price increases. With today’s decision and limiting prices for our economy, there will be an increase in prices, but not to the extreme that has happened to the countries in our environment”, adds Vedran Lakić, Federal Minister of Energy, Mining and Industry.

Limited prices of 40 basic foodstuffs

From the region, the action “We lock in prices” has been copied, within the framework of which there will be no increase in the prices of 40 basic foodstuffs in the Federation of BiH from December 15 to March 15, 2024. Through the amendment of the Law on Price Control, punitive measures have been increased, states the Federal Minister of Trade, Amir Hasičević, and adds:

“Given that we had various situations on the field, the punitive measures were stimulating to say the least. The minimum fine was 1000, now it is 6000, the maximum was 10000, now it is 30000. In the next year, we are making a totally new law.”

Two average salaries for workers?

In the first half of next year, employers could make life easier for workers. With the new regulation on the payment of assistance, employers can pay two average salaries, tax-free.

“The bottom line, the amount of two average federal salaries of 2,520 BAM, is a temporary decree, from the date of entry into force of this decree until June 30, which means that this amount can be paid in one tranche, and it can be paid in up to six tranches at most, if it is up to six tranches, then it is the monthly amount of 420 BAM, exclusively to the employee’s transaction accounts”, says Toni Kraljević, Minister of Finance of FBiH.

The minimum salary of 1000 BAM will wait for better times

“We constantly announce that we are constantly working on the issue of fiscal laws, limiting contributions, solving the minimum wage issue, creating assumptions for the introduction of online fiscalization, our estimates are that without the introduction of online fiscalization, the budget will be very difficult to withstand the reduction of contributions and budget holes that will arise”, says Nikšić.

However, an increase in salaries is necessary, because the holes in the pockets of citizens are deeper than the budget ones, and they can hardly provide a decent holiday meal.

“Oh, nothing table. I go to the guests, let them prepare the table, I did it last year”, says the fellow citizen.

“She will not be more modest, but completely modest. If there is any for the holidays. It is very difficult for us pensioners to afford it,” adds another citizen.

“Everything has become more expensive, we all see that. It can happen that there are one price in the morning, and another price in the afternoon,” says a fellow citizen.

The Federation of Independent Trade Unions welcomed the new regulations, but still insist on increasing the minimum wage.

“What we also have a promise is that the Minimum Wage Law together with these two fiscal laws should be adopted in the first quarter of next year. We sincerely hope that reason will prevail”, says Adis Kečo, from the Association of Independent Trade Unions of Bosnia and Herzegovina.

However, since there is still no indication of an increase in the minimum wage, and the aforementioned aid regulations depend on the goodwill of the employer, it is increasingly certain that citizens will resort to loans in order to provide for the festive table, N1 writes.

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