Greek Minimum Wage Set to Increase to 820 Euros in April

World » SOUTHEAST EUROPE | January 23, 2024, Tuesday // 15:48
Bulgaria: Greek Minimum Wage Set to Increase to 820 Euros in April

In a move to address economic concerns and improve the standard of living for workers, the Greek government is set to increase the minimum wage by approximately 5%, raising it from the current 780 euros to a range of 820-830 euros. The Minister of Labor and Social Development, Domna Michailidou, has expressed her commitment to introducing an amendment to expedite the process, with the new rates expected to come into effect on April 1.

The proposed increase is aimed at aligning the minimum wage with current inflation rates and productivity gains. This step is crucial in achieving the government's broader goal of gradually raising the minimum wage to 950 euros by 2027, a commitment made by the New Democracy government.

The adjustment in the minimum wage is part of broader economic measures outlined in the state budget for the year. For the first time since February 2012, the budget foresees an increase in the salaries of civil servants. Prime Minister Kyriakos Mitsotakis highlighted this development in December 2023, stating that 660,000 civil servants would witness an increase for the first time in 14 years.

Additionally, the incomes of around 100,000 individuals in the private sector earning the minimum wage will see incremental increases based on length of service. This includes a 10% increase for three years of service, 20% for six years, and 30% for nine years or more of service. The first set of increases for those entering this category and commencing work now is expected in 2027.

Mitsotakis has also committed to elevating the average salary to 1,500 euros by 2027, reflecting the government's broader strategy to enhance economic conditions for Greek citizens.

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Tags: greece, minimum wage, economic, government

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