Minimum wage set to increase

IMPACT — MEDIUM

The Greek government announced that it will increase its minimum wage in April.

Key Points:

• Beginning April 1, Greece’s minimum wage will increase to €780 (about US$844) per month from €713 per month.
• The new minimum wage applies to applications submitted on or after April 1, 2023, and applications that were submitted before April 1, 2023, that are still pending.
• The new minimum wage requirements will not affect EU Blue Card minimums.

Additional Information: The minimum wage is relevant to all workers in Greece whose wages cannot be lower than the minimum wage. Foreign workers must be paid above the minimum wage.

BAL Analysis: Businesses may see a slight increase in labor costs because of the new minimum wage. Employers should take the new wage minimums into account and adjust their 2023 budgets if necessary.

This alert has been provided by the BAL Global Practice Group. For additional information, please contact berryapplemanleiden@bal.com.

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