The government has set the target for the minimum wage at €950 by 2027. To achieve this, the €70 difference will be covered through two increases: one in April 2026 and one in 2027. Labor Minister Niki Kerameos recently emphasized in an interview that the target remains unchanged, with the current minimum wage at €880. The increase will be implemented in two installments, with the first scheduled for April 1, 2026.
Scenarios for the Minimum Wage Increase
There are two main scenarios for how the increase could be distributed:
- Scenario 1: An increase of €30, raising the wage from €880 to €910 gross (approximately €765 net).
- Scenario 2: An increase of €40, raising the wage from €880 to €920 gross (approximately €772 net).
Strategy for Future Adjustments
From 2028 onwards, minimum wage adjustments will follow a mathematical formula considering economic growth and inflation, ensuring a more stable alignment with market needs.
Increases Due to Collective Agreements
This year, salary increases of 15%-20% are expected for private sector workers thanks to the reinstatement of collective labor agreements. Currently, only 24% of employees are covered by such agreements, but the government aims to gradually cover 80% of workers over the coming years.
Sectoral agreements, such as those for private insurance companies, banks, and hotels, may be extended to all employees in the sector. New agreements are also expected in previously uncovered sectors, such as private clerical staff, which involves around 700,000 workers.
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