Greece to raise monthly minimum wage by 6.4% to 830 euros


ATHENS: Greece will raise its monthly minimum gross wage by 6.4% to 830 euros, the conservative authorities mentioned on Friday, the fourth such improve in 5 years geared toward easing the burden on households squeezed by a better price of dwelling.
The improve, which was broadly anticipated, will profit tons of of thousand of employees, mentioned the federal government, which survived a no-confidence vote on Thursday.
The monthly minimum wage was raised by 9.4% to 780 euros in April 2023.
“Today’s decision will relieve workers without affecting the strength of the economy and the competitiveness of businesses,” Prime Minister Kyriakos Mitsotakis informed his cupboard.
Greece’s economic system expanded by 2% final 12 months, barely decrease than the federal government’s projection however nonetheless properly above the euro zone common of 0.4%. It expects development of two.9% this 12 months buoyed by tourism, elevated investments and home demand.
“We are implementing one more step to fulfil our pre-election commitments,” Mitsotakis added.
The authorities, which received re-election final June, has promised to raise the monthly minimum wage to 950 euros by 2027, when its time period ends, and improve the typical wage by greater than 25% to 1,500 euros in the identical interval.
It has additionally pledged to improve public sector wages and pensions additional as a part of its financial restoration following a decade-long debt disaster that slashed incomes throughout the board.
Mitsotakis mentioned earlier this month that there was no fiscal room for a one-off handout to assist essentially the most weak, a typical apply lately, and that he most well-liked rising wages as a substitute.
The EU parliamentary elections in June would be the first official take a look at of the federal government’s recognition since its re-election.
Greece emerged from a sequence of worldwide bailouts in 2018 and final 12 months regained investment-grade standing from credit standing businesses after 13 years within the “junk” class due to its overwhelming nationwide debt.

Nilesh Desai
Nilesh Desai
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


Please enter your comment!
Please enter your name here

Share post:



More like this