Minimum salary raise set to come earlier

The new, increased minimum salary is expected to be implemented this year from April 1, earlier than planned, with the new minister of labor and social security, Domna Michailidou, announcing the filing of an amendment to speed up the process "so that the new increase can be taken into account for the tourism season."

According to sources, the minister, who has already started formal meetings with the representatives of the social partners, will seek to shorten the consultation process. 

Based on the estimates, the minimum wage will move around +5%, as the rate of increase will have to incorporate the current inflation but also a part of the increase in productivity. In practice this is estimated to lead to a minimum monthly salary of 820-830 euros, up from €780 today, leaving an extra €120-130 by 2027 to meet the government's minimum wage target of €950.