Yiannis Panayiotou, the Minister of Labour, hinted at the government’s contemplation of raising the national minimum wage in the upcoming year, Phileleftheros reported on Tuesday.
Addressing the matter on state radio, he stressed the need for ongoing dialogue without preempting the discussions already underway.
The Minister specifically highlighted the imminent implementation of a new decree regulating the national minimum wage at the start of the year. This decree’s formulation, he revealed, will result from the discussions scheduled within the committee responsible for the matter, set to reconvene on November 2. The decision-making process will also involve debates at the labour advisory body with input from social partners, along with collaborations with academic institutions that the ministry has engaged.
When questioned about the potential hike in the national minimum wage through the new decree, Panayiotou outlined three possible scenarios: a decrease, maintaining the current rate, or an increase. He refrained from preempting the discussion’s outcome but expressed scepticism about the first two options, considering the prevailing economic and societal data.
Anticipated discussions within the labour advisory body will likely focus on the scale of the proposed wage increase and a range of demands from unions. These may include the inclusion of specific provisions in the decree, clarification on hourly wage specifications, and more.
As per the existing decree, the national minimum wage stands at a minimum of €885 gross at recruitment and rise to €940 gross after a continuous six-month period with the same employer. The initial adjustment to the national minimum wage, implemented this year for the first time, is scheduled for January 1, 2024, and subsequent reviews will occur every two years.