The basic wage in Greece increased by 7.5%, as of Sunday, May 1, rising to 713 euros per month from 663 euros previously.
The corresponding minimum daily wage increased to 31.85 euros from 29.62 euros.
Talking to the Athens-Macedonian News Agency (ANA), Labour and Social Affairs Minister Kostis Hatzidakis said : “This is an increase that occupies the extreme limits of what the economy can support – in an environment of strong uncertainty”.
The Greek government believes the increase in the basic wage will not undermine the competitiveness of the Greek economy and businesses, considering that the latter were supported by the government in a number of ways, such as a reduction in taxes and lower social insurance payments, aid handed out during the pandemic and subsidies for energy.
The increase in the minimum wage concerns roughly 650,000 employees and the combined benefit of the wage increases and lower deductions amounts to 906 euros on an annual basis.
The increase in the minimum wage will also increase the amount received in unemployment benefits, rising to 438 euros per month from 407.25 euros previously, or 17.51 euros per day from 16.29 euros.
At the same time the increase reflects on various other benefits, such as parental leave, pay for work experience programmes, maternity leave, strike pay and others.