Minimum wage hike of 2.5-3%

Minimum wage raises of approximately 2.5% to 3% stem from the new formula of the Labor Ministry bill that will be implemented after 2028, according to estimates by economic analysts.

The estimates are based on the historical data of the Greek economy on productivity. If this were to accelerate significantly, it could ensure a better result.

In fact, if the mathematical formula provided for in the relevant Labor Ministry bill had applied since 2019, the increases that would have been given would not have differed cumulatively from those actually granted.

The bill has sparked much debate about whether or not it is right to decide in this way, that is, with a mathematical formula, the minimum wage hikes in the future.

Before answering this question, however, it is interesting to see what increases the mathematical formula chosen by the government results in...