Income distribution

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 road to increasing the minimum wage to 950 euros and the average salary to €1,500 by 2027, as the government has pledged, is difficult and long.

According to academics and labor experts, the goal is hard to achieve even at nominal prices. As they say, after the increase in the minimum wage, the average has been set at €1,200.

The average monthly earnings of private sector employees improved in 2023, largely thanks to the increase in the minimum wage, which pushed up all pay brackets.

The decline of the unemployment rate in Greece to 9.2% in December 2023, three percentage points lower than in December 2022, was the topic that government spokesperson Pavlos Marinakis chose to begin his press briefing on Monday, noting that 102,000 jobs have been created in the past year.

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.

BELGRADE - The average monthly wage in Serbia will exceed 1,000 euros in a year and two months' time, President Aleksandar Vucic said on Wednesday.

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.

Croatia has ushered in a new fiscal landscape, as nine tax laws come into effect on January 1, boosting the minimum wage to 830 euros, as reported by Croatian Prime Minister Andrej Plenkovic.