Greece To Raise Minimum Wage 6.4%

Another minimum wage increase will kick on Monday in Greece, as the government of Prime Minister Kyriakos Mitsotakis announced last week.

The minimum wage will now be €830 (gross, $895), up from €780, a 6.4% increase.

Salaries have been raised 27% since 2019, when it stood at €650, while the premier said that he is planning to further increase it by the end of his four-year term.

Specifically, Mitsotakis said that he aims to raise the monthly minimum wage to €950 by 2027 and increase the average wage by more than 25% to €1,500 in the same period.

Raises are also expected to take place in the public sector and in pensions.

"Today's decision will relieve workers without affecting the strength of the economy or the competitiveness of businesses," Mitsotakis said during a Cabinet meeting on Friday.

Some 600,000 workers in the private sector will benefit from the hike, the government said, in an aim to help Greek households that have been overburdened by inflation.

In April 2023, the Mitsotakis government raised the minimum salary 9.4% to €780. -