Labor relations

The increase in the minimum wage also creates pressures for salary increases for other employees in Greece, especially in small businesses and some industries, such as services.

Minister of Labor and Social Security Domna Michailidou spoke about the government's decision to proceed with the fourth consecutive increase of the minimum wage on radio station Parapolitika on Wednesday.

As the government mulls over simplifying labor legislation in Türkiye, media reports are discussing the potential reduction of working hours. However, despite signals of change, concrete action is yet to be taken.

Soon price reductions on the shelves – The Prime Minister said in the interview he gave to Star that the minimum wage will be over 800 euros

The National Economy and Finance Minister, Kostis Hatzidakis, announced on Sunday that the minimum wage increase, set to exceed 800 euros, will be revealed by the end of March to take effect from April 1. 

In an interview on SKAI TV, Hatzidakis emphasized the government's commitment to redistributing surplus in case of high growth rates. 

Cyprus' Ministry of Labor and Social Insurance has announced a significant rise in the national minimum salary, effective this January, in a move aimed at bolstering the income of low-wage earners.

The Institute for Social and Trade Union Research has revealed that the value of the small consumer basket, consisting of 20 essential products, witnessed a substantial 5.9% increase in 2023 compared to the previous year. This surge, from BGN 107.03 to BGN 113.72, has raised concerns about the economic well-being of the general population.

The General Council of the General Confederation of Greek Labor (GSEE) is to convene on Saturday, at the Radisson Blu Park Hotel in Athens, to decide on GSEE's response to the problems facing Greek workers and Greek society as a whole.

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."

In a move to address economic concerns and improve the standard of living for workers, the Greek government is set to increase the minimum wage by approximately 5%, raising it from the current 780 euros to a range of 820-830 euros.