Minimum wage: New increase to be unveiled today, around €920 the main scenario

Just days aft announcing caller enactment measures to code the interaction of the war, the authorities continues its bid of economical announcements, this clip focusing connected boosting disposable income.

As each year, today’s furniture gathering (starting astatine 11 a.m.) nether Kyriakos Mitsotakis volition denote the caller minimum wage, which volition instrumentality effect from April 1. The summation volition chiefly interaction businesses, thing taken into relationship successful the existent clime of economical uncertainty, portion the extremity of reaching €950 gross by 2027 remains successful place. The connection is being presented by Labor Minister Niki Kerameus, successful practice with Finance Minister Kyriakos Pierrakakis.

Based connected this attack and the government’s cautious stance, the summation is estimated to scope astir €920 (approximately €772 net), with a much blimpish estimation placing it astatine €910 (around €765 net). In caller days, determination has besides been treatment of a imaginable emergence to €930, considering that erstwhile increases were astir €50 per year.

In immoderate case, since the summation affects some wage and non-wage costs for businesses, the authorities is aiming to stay measured during this period. Kyriakos Mitsotakis has besides dismissed earlier scenarios suggesting much assertive increases.

It is worthy noting, according to authorities sources, that the minimum wage has gradually risen from €650 successful 2019 to €880 today—an summation of 35.4%. This corresponds to €3,220 gross annually, meaning that workers connected the minimum wage present efficaciously gain the equivalent of 5 further monthly salaries compared to 2019, adjacent earlier the caller increase. Taking ostentation into account, economical officials reason that wage increases person exceeded inflationary pressures. The people of an mean wage of €1,500, announced by Mitsotakis during the 2023 elections, has besides astir been achieved.

The caller summation volition besides interact with changes to the taxation scale, portion workers nether 30 volition payment adjacent much owed to taxation breaks oregon tax-free thresholds. Additionally, the minimum wage summation affects assorted societal benefits arsenic good arsenic seniority-based wage increments successful some the nationalist and backstage sectors.

The agenda

The cabinet’s docket is broader and volition besides see developments related to the war, which Kyriakos Mitsotakis is expected to code successful his opening remarks, followed by a briefing from Foreign Minister Giorgos Gerapetritis.

Also considered important is the presumption by Deputy Finance Minister Nikos Papathanasis connected the milestones of the Recovery Fund, which expires connected August 31, with Greece aiming to sorb arsenic galore funds arsenic imaginable during the eighth and ninth disbursements.

The docket besides includes:

• A measure from the Migration Ministry connected implementing the caller Pact connected Migration and Asylum
• A Culture Ministry measure connected protecting underwater taste heritage
• An acquisition bill
• The implementation of EU directives by the Development and Digital Governance ministries