[Greece] Government will raise minimum wage again to boost low incomes

Prime Minister Kyriakos Mitsotakis has announced that Greece’s minimum wage will rise for the second time this year from May 1 as rising inflation takes a toll on household incomes, Cyprus Mail reports.

“The global surge in inflation is hitting low incomes. From May 1 the basic wage will rise by 50 euros a month to 713 euros a month,” The Prime Minister said in a televised address on April 20.

In January the conservative government raised the monthly gross minimum wage by about 2 per cent to 663 euros, meaning that with the new increase the minimum wage will go up by 9.7 per cent.

Consumer inflation in Greece reportedly surged to 8.9 per cent in March, hitting its highest level in 27 years with skyrocketing energy costs putting a squeeze on household incomes.

Natural gas prices leapt 68.3 per cent on an annual basis, while electricity prices increased 79.3 per cent.

Thousands took to the streets of Athens earlier this month to protest against what they said was a “deepening crisis” of rising prices. The government’s term ends in 2023.

“The shared agony I see on everyone’s face is the high cost due to the international energy crisis and the war in Ukraine, the prices for electricity, at the gasoline station, at the (supermarket) shelf,” Mitsotakis said.

The Prime Minister acknowledged that pay levels are “indeed low in our country”.

“The wounds of the 10-year financial crisis have not healed and now the surge of inflation globally hurts first and foremost the low incomes and the unemployed,” Mitsotakis said. “My decision today is centred towards them.”

The Greek government has spent about 4.0 billion euros in subsidising power bills for households, businesses and farmers faced with rising electricity and gas bills since last year.

Last week it said it is also preparing a national plan for a “decisive” intervention in the price of electricity to soften the impact on consumers if the European Union does not take action on the issue soon.

Source: Cyprus Mail

(Quotes via original reporting)

Prime Minister Kyriakos Mitsotakis has announced that Greece’s minimum wage will rise for the second time this year from May 1 as rising inflation takes a toll on household incomes, Cyprus Mail reports.

“The global surge in inflation is hitting low incomes. From May 1 the basic wage will rise by 50 euros a month to 713 euros a month,” The Prime Minister said in a televised address on April 20.

In January the conservative government raised the monthly gross minimum wage by about 2 per cent to 663 euros, meaning that with the new increase the minimum wage will go up by 9.7 per cent.

Consumer inflation in Greece reportedly surged to 8.9 per cent in March, hitting its highest level in 27 years with skyrocketing energy costs putting a squeeze on household incomes.

Natural gas prices leapt 68.3 per cent on an annual basis, while electricity prices increased 79.3 per cent.

Thousands took to the streets of Athens earlier this month to protest against what they said was a “deepening crisis” of rising prices. The government’s term ends in 2023.

“The shared agony I see on everyone’s face is the high cost due to the international energy crisis and the war in Ukraine, the prices for electricity, at the gasoline station, at the (supermarket) shelf,” Mitsotakis said.

The Prime Minister acknowledged that pay levels are “indeed low in our country”.

“The wounds of the 10-year financial crisis have not healed and now the surge of inflation globally hurts first and foremost the low incomes and the unemployed,” Mitsotakis said. “My decision today is centred towards them.”

The Greek government has spent about 4.0 billion euros in subsidising power bills for households, businesses and farmers faced with rising electricity and gas bills since last year.

Last week it said it is also preparing a national plan for a “decisive” intervention in the price of electricity to soften the impact on consumers if the European Union does not take action on the issue soon.

Source: Cyprus Mail

(Quotes via original reporting)