The authorities in Bosnia's Federation (FBiH) entity, shared by Bosniaks and Croats, decided on Wednesday to raise the pensions paid by the entity Institute for Pension and Disability Insurance by 2.8 percent, Fena news agency reported.

“During the FBIH government session, the Pension Institute was tasked to adjust all pensions in the amount of 50 percent of the increase in consumer prices and 50 percent of the estimate of the percentage increase in the gross domestic product in the FBiH in the previous year, and according to the FBiH Bureau of Statistics, in the amount of 2.8 percent,” the government statement said.

The Pension and Disability Institute was also told to adjust the value of the general pension point according to the percentage increase of the average gross salary in the entity in the previous year.

After applying this percentage of adjustment of 4.5 percent to the value of the general point of 14.5 marks (some €7.2) from 2019, the calculated value of the general pension point for 2020 will amount to 15.15 marks (some €7.5).

According to the FBiH Pension and Disability Insurance Institute, the average pension for the month of may was 418.84 Bosnian marks, which is approx. €209.

(€1=1.955 Bosnian marks)