Socialism

The process for setting the minimum wage in 2023 is to be accelerated and brought forward so that the new basic wage can come into effect on April 1, in line with a pledge made by Prime Minister Kyriakos Mitsotakis under a new Labor and Social Affairs Ministry amendment announced on Friday.

Cyprus' national minimum wage went into effect on January 1, according to a decree issued by the Minister of Labor and Social Insurance, Kyriacos Koushos. The national minimum wage is set at 940 euros, though, for the first six months of employment, it will come to €885.

Moving in the right direction is the increase of the minimum wage, as it strengthens the income of the low paid and at the same time can "breathe life" in to the market, as noted in a statement by the president of the Athens Chamber of Commerce, Giannis Chatzitheodosiou.

North Macedonia's Union of Workers in Education, Science and Culture, SONK, is expected to continue talks on Wednesday with the Education Ministry over its demands for an immediate pay rise and a series of further salary increases linked to the cost of living over the coming years.

As of today - April 1, the minimum wage in the country is BGN 710 (EUR 363). According to the decree of the Council of Ministers, the minimum hourly rate is BGN 4 leva and 29 cents, which at working hours of eight hours in a 5-day working week makes BGN 710 a month.

Its increase is nearly 10% compared to the previous minimum wage of BGN 650.

Labor and Social Security Minister Vedat Bilgin gestures during a meeting with labor and trade union representatives in Ankara on Dec. 1.

A commission of officials and representatives of labor and trade unions convened to initiate negotiations on the minimum wage for next year.

С The leapin prices in Bulgaria is already noticeable with a naked eye, and the Confedertion of Independent Trsde Uniond in Bulgaria (CIYUB) predicts that the increase in electricity costs will exceed the the parameters of the socially bearable price. This is expected to affect the businesses as well as all other products.

The increase of the minimum wage must be done in accordance with the business environment, otherwise it will lead to layoffs and everything will turn against the people, Labour Minister Raluca Turcan said on Thursday in a press conference.