Report urges restraint over fresh minimum wage hike

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Report urges restraint over fresh minimum wage hike


The planned increase in the country’s minimum wage should not exceed 7.5% because it will disproportionally affect small firms in some of the country’s most important economic sectors, such as tourism, trade and manufacturing, a report submitted to the Labor Minister warns.

The report, by the Center of Planning and Economic Research, a state research institute, recommends a raise from 4.5% to 7.5% on the present minimum wage of 719 euros.

The announcement of the raise, the second in two years, has been slightly postponed after last week’s train crash, but is expected to be approved by Cabinet this week.

A ministerial decree will then be published; Parliament approval is not required.

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