In view of the ever-rising inflation in Cyprus trade unions and consumers associations jointly demand the increase of the national minimum wage as from January 1, 2024, Philenews reported on Thursday.
A memorandum has already been sent to President Nikos Christodoulides in view of the fact that the national minimum wage will be adjusted for the first time on January 1, 2024. And then every two years based on concrete criteria.
The national minimum wage which only went into effect on January 1, 2023 is set at €940, however, for the first six months of employment it stands at €885.
The set national minimum wage basically benefits some 40.000 low-income workers.
In a joint statement, union and associations have outlined their demands in the sent memorandum which also calls on the need for COLA (Cost of Living Allowance) to be included.
The provisions of the national minimum wage decree do not apply to domestic, agricultural or shipping workers, or to workers to whom the minimum wages in the Hotel Industry Decree of 2020 applies or to those in training or internships.