Prime Minister Kyriakos Mitsotakis said the new minimum wage in Greece would reach €950 by 2027, chairing a cabinet meeting at Maximos Mansion in Athens on Thursday morning.
Addressing his ministers, Mitsotakis clarified the new minimum wage mechanism would be based on the French model, dubbing the initiative “pivotal.”
The Greek Premier stated the new system would prohibit any reduction of the minimum wage by law.
He explained that the amount of the wage increase in the minimum wage in Greece would be tied to economic growth and productivity, as well as inflation rates that particularly affect low-income groups.
“The better the economy performs and the higher productivity rises, the more the minimum wage will increase, as will compensation for rising prices,” Mitsotakis stated.
Public sector workers will also benefit, with entry-level salaries aligned with the national minimum wage. This adjustment will, in turn, raise three-year seniority increments and allowances linked to the minimum wage. Mitsotakis emphasized that this policy change constitutes a significant reform benefiting all workers by establishing a rule that wages can only rise, never fall.
Additionally, Mitsotakis announced a gradual reduction in insurance contributions, targeting a decrease to 6% by 2025, with an aim to align with European levels by 2027.
