‘Brave’ rise in minimum wage

Labor and Social Insurance Minister Domna Michilidou.

The new minimum salary to be introduced from next Monday, April 1, will amount to 830 euros gross, increased by 6.4%, the government announced on Friday. It will concern at least 560,000 workers already employed in the private sector.

This is the fourth consecutive increase of €50 gross - or €40 net - which the competent Minister of Labor, Domna Michailidou, described as "brave," as it leads to net (after taxes and contributions) earnings amounting to €706.

In fact, cumulatively, from 2019 to 2024, the increase is of the order of 27% and leads to three extra monthly salaries added to the income of the employees.

At the same time, of course, the burden on businesses also increases, as does the state's revenue from the collection of more contributions and taxes.

In detail, for an employee who currently receives the minimum wage of €780 gross, €108.19...

Continue reading on: