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Economy

Cyprus Will Set National Monthly Minimum Wage This Month

NICOSIA – It’s not know how much it will be but Cyprus reportedly will set a national minimum wage between 45-60 percent of the monthly average salary of 1,573 euros ($1,783) likely to be determined before the end of January.

Sources not named told Kathimerini Cyprus that the level will probably be between 50-60 percent of the average monthly salary because there are nine professions on the island that have a minimum wage of 870 euros ($986.)

Officials from the Cypriot Ministry of Labor, the International Labor Organization (ILO), the Ministry of Finance, trade unions and employers had to delay discussions because of the COVID-19 pandemic.

There’s a wide deviation in minimum wages in the European Union, ranging for 312 euros ($354) in Bulgaria to 2,412 euros ($2,734) in Luxembourg while in Greece it was increased 2 percent to 663 euros ($752) as of Jan. 1.

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