ECONOMY

Minimum salary to rise 2+3%

minimum-salary-to-rise-23

The minimum salary is set to grow by 2%, from 650 to 663 euros per month, as of January 1, but with the prospect of a second increase within 2022, probably in the summer.

The benefit will be greatest for salary workers who have been in their position for at least nine years, as their minimum salary will rise from €845 to €861.90, with similar gains for recipients of other allowances, such as married employees.

The increase will also affect daily pay for menial labor and the various allowances of the Manpower Organization (OAED), with the jobless benefit set to rise by €9 per month.

The Labor Ministry notes that the government’s pledge for a second rise during 2022 remains active. As things stand, the second rise will come to at least 3%, so that in total it will match the anticipated increase of the gross domestic product – i.e. some 5% for next year. It is not out of the question that the increase will rise even further, depending on the course of GDP.

Private sector salary workers were also happy to note the maintenance of the reduction of social security contributions for 2022 by three percentage points for employers and employees: This breaks down to 1.79 percentage points for employers and 1.29 for employees.