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Greece set to increase minimum wage by €50 monthly starting April 1

Athens, March 30 (IANS) Greece is set to increase its minimum monthly wage from 780 euros ($842) to 830 euros ($895) starting April 1. This marks the fourth hike over the past five years, with Prime Minister Kyriakos Mitsotakis announcing the decision at a cabinet meeting on Friday. The minimum wage has seen a 27.7 percent increase from 2019, rising from 586 euros.

Mitsotakis also outlined the government’s goal to further raise the minimum wage to 950 euros by 2027, alongside elevating the average salary to 1,500 euros. The move comes as part of efforts to address the impact of the Greek debt crisis, during which the minimum salary was slashed to 586 euros to enhance competitiveness.

Despite the increase, labor unions have expressed concerns that the adjustments may not be sufficient for low-income earners to keep pace with inflation. However, the government has emphasized the need to strike a balance, highlighting that a sudden surge in wages could strain businesses still reeling from the effects of the Covid-19 pandemic and energy crisis.

In a statement, Mitsotakis stressed the importance of supporting employees while mitigating the impact on production costs and aiding in lowering unemployment rates. The government aims to find a middle ground that benefits workers without placing an excessive burden on struggling businesses. (1 euro = $1.08)

IANS

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