ECONOMY

Minimum wage will rise again

minimum-wage-will-rise-again

Next year’s second increase to the minimum wage will be significantly higher than the first one, amounting to 2%.

After the prime minister and Finance Ministry officials, Alternate Minister for the Interior Stelios Petsas told Skai TV on Thursday that he is confident the increase of the minimum wage will be far above 2%.

He added that the decision will take into account inflation and growth rates, as well as the prospects of the Greek economy. “With a growth rate that in my view will approach 8% this year, we cannot speak of a minimum salary rise of just 2%,” said the former government spokesman.

Seventeen European Union member-states have already introduced minimum salary increases this year.

Employer associations have been discussing a further increase next year, after the 2% already planned to apply from the beginning of 2022, while a further reduction of social security contributions is also on the table. 

Small and medium-sized enterprises also point to the energy rate hikes, saying that real market conditions must also be taken into account.