What significance does a real income increase have without an increase in productivity? It is like buying goods on credit! And since, ultimately, someone always has to pick up the bill, the role of the “volunteer” will be assumed by the NBS through adapting the exchange rate, which means that all citizens of Serbia will be paying someone else’s bill.
This is a scenario well-known to us from the 80s and the 90s, and we all know to what extremes this has brought our country in the economic sense!