Greece to raise minimum wage

Greece is to raise its minimum monthly wage from 780 euros to 830 euros as of April 1, the fourth such increase over the past five years, reported Xinhua.

Greek Prime Minister Kyriakos Mitsotakis, who made the announcement at a cabinet meeting Friday, said the minimum wage has increased by 27.7 percent from 586 euros since 2019.

He also noted that the government aims to elevate the minimum wage to 950 euros by 2027 and the average salary to 1,500 euros.

During the Greek debt crisis (2009-2018), the minimum salary was reduced to 586 euros as a means of boosting the country's competitiveness.

Labor unions have argued that the government's "corrections" were not adequate for low-income earners to cope with inflationary pressures.

However, the government cautioned that a sudden leap to higher salaries would impose unbearable burden on businesses that were still struggling with the impact of the COVID-19 pandemic and energy crisis.

"With our decision, we support employees without adding much burden on production costs and jeopardizing the reduction of unemployment rates," Mitsotakis said.