ATHENS – On Friday, Prime Minister Kyriakos Mitsotakis announced that the minimum wage will be set at €780 beginning April 1, 2023. This represents a 9.4% increase from the previous minimum wage.

As the Prime Minister emphasized, this increase is at the maximum limit of the country’s capabilities, and he also highlighted that the minimum wage was only €650 in 2019.

The increase of the minimum wage to 780 euros is imperative and fair, Labour Min says

During a press conference held on Friday, Labour and Social Affairs Minister Kostis Hatzidakis presented details of the government’s decision to increase the minimum wage and daily wage to €780 and €34.84, respectively, starting from April 1st. “The increase in the minimum wage to €780 per month from April 1st is necessary to meet the increased needs of employees and is based on the momentum that the economy has built up over the last four years. It is a significant and fair increase, which takes into account both the debt we owe to support employees, especially in light of increased imported inflation, and the capacity of businesses,” said Hatzidakis.

The minister also highlighted the factors that were taken into consideration when determining the minimum wage increase, including the decrease in unemployment from 17.5% in 2019 to 10.8% in January, the improvement in competitiveness due to increased investments and exports, the continuing economic recovery, the course of inflation, which, although decelerating, is expected to remain at high levels, and Greece’s position in the European Union, based on GDP and the level of the minimum wage. Overall, the increase in the minimum wage reflects the government’s commitment to supporting employees and promoting economic growth.

However, he noted that unemployment does not decrease automatically. “It fell from 17.5% to 10.8% due to a series of political and economic conditions that came together, namely government stability, seriousness, and a positive economic climate. If these conditions do not persist, unemployment will rise again,” he emphasized.

Hatzidakis highlighted that the increase in the minimum wage would also lead to a rise in 19 benefits, including those for unemployment, maternity, and others. He stated that the unemployment benefit would now reach €479 per month.