Portugal Raises the Minimum Wage to EUR 635
- Tweet
Send to Kindle
www.pixabay.com
The Portuguese minority government presented a proposal for the minimum wage to be increased by almost 6% to EUR 635 in the next year. However, the wage remain the lowest in Western Europe, according to Reuters.
Socialist Prime Minister Antonio Costa has pledged an increase of 25 percent to EUR 750 by 2023 at the start of his second term last month.
One in five workers in Portugal receives a minimum wage.
The Socialists have enjoyed strong economic growth and a reduction in the budget deficit over the last 4 years. They won the election on October 6 and increased their parliamentary presence, but they did not reach the majority.
Between 2015, when the Socialists took power, and 2019, the minimum wage increased by 14% from 505 to 600 euros, far below neighbouring Spain, where it was 1050 euros.
- » The United States Owes the UN $ 491 Million
- » The 2020 State Social Security Budget - Adopted
- » The Minimum Retirement Pension Rises to BGN 250 from July 1
- » Standard & Poor Upgraded Sofia's Long-Term Credit Rating
- » Minister Goranov: Bulgaria Has the Highest Credit Rating in the Balkans
- » Finding the Right Investment for Your Money
