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17th April 2022, Skopje – Wages in the field of education should increase, with their wages being increased at several occasions over the past years. Wages should also increase in the field of health, judiciary, defense, security, however, we need to deliver good economic performance and become aware of the global developments, whereby the economy should get back on sound footing, Minister of Finance, Fatmir Besimi wrote in his article, pertaining to productivity, wages and human capital.

As announced by the Government, upon meeting with the education trade unions’ representatives, in the upcoming days, we will work on finding a sustainable solution in terms of providing higher living standard for the teachers, to be simultaneously accompanied by reforms that will contribute to better-quality education, expanded knowledge for pupils and students, i.e. strengthened human capital, thus leading to increased productivity and sustainable economic growth, all to the end of providing higher living standard for all citizens – as Minister of Finance wrote.

In his article, Besimi indicated the results frim the World Bank’s, noting that the 11 years of preschool, primary and secondary education, as per the quality of what has already been learned is equivalent to only 7.3 years in the developed countries.

-What should further worry us and what is currently worrying us is certainly the human capital, i.e. the future generations – our children. So far, they have unjustifiably wasted 3.7 years in school – which is why we should prevent further wasting of their time. The future of our economy, including the pensions, will depend on their future productivity. Building a solid and sound system where we all add value is the only system that can bring prosperity and provide for higher living standard. We should all put efforts to make things better, whereby the results and rewards will be inevitable if we all equally take our task seriously. Minister of Finance wrote.

As regards wages, Besimi wrote the Government created a realistic system for annual harmonization of the minimum wage with 50% of the annual average wage rise and 50% of the increase in the costs of living, setting thereby a benchmark, by which the amount of the minimum wage could not be lower than 57% of the average wage published by the State Statistical Office, in both the public and the private sector.

-We are, as a Government, committed to increasing the wages in both the private and the public sector. If the market determines the level of wages in the private sector, as per the labour supply and demand, as well as its productivity, it is supposed to be monitored by the public sector as well. On the other hand, it must both be efficient and deliver high-quality services to the citizens and the business sector, which should be competitive and provide for higher economic growth, thus increasing the income and raising the living standard, as well as the quality of life of citizens. In other words, wages in the public sector should keep pace with the productivity in the private sector. Besimi wrote.

Minister also indicated that, as per the economic theory, any increase in wages, without being accompanied by an increased productivity, will cause inflationary pressures, which in case of price pressures can further refuel inflation.

Also available in: Macedonian Albanian

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