ECONOMY

Minimum salary to rise to 654 euros in October

The first part of a government plan to increase the minimum salary is expected to be implemented in October, taking the level up to 654 euros per month for all private sector workers. The government’s election pledge to raise the minimum monthly salary to 751 euros will not be fulfilled before the second half of 2016.

The Labor Ministry is currently planning for two regulations, which will bring the salaries paid to young workers up to the same level as those received by older workers, as well as the minimum salary of menial workers to that of office employees. That way, if Parliament clears both measures, no worker should get less than 654 euros per month.

These interventions are expected to be finalized in the coming days, and repeated meetings on the issue are taking place at the ministry to reach the best possible result. At the moment the minimum salary of under-25s stands at 510 euros, which is seen growing to 586 before climbing to 654 euros – the current minimum salary of menial workers.

Another upcoming Labor Ministry bill concerns the reinstatement of collective labor contracts, undoing a number of the measures introduced from the bailout agreements with the country’s creditors.