Minimum wage in the United States

A proposed bill by the Ministry of Labor and Social Politics has sparked controversy by suggesting that the minimum wage in Bulgaria should only increase in line with inflation. Although the bill has not yet been made available for public discussion, its contents were revealed through a strong statement from the Confederation of Labor "Podkrepa" on their website.

From January 1, 2026, entry-level public sector salaries in Greece will increase in line with the minimum wage set for the private sector, according to a new labor law draft. However, for 2025, a unique approach will apply, as outlined in the draft legislation of the Ministry of Labor, which is open for public consultation until November 21.

A bill on establishing the minimum wage for 2025, 2026 and 2027 was posted for public consultation on Tuesday. The draft law was submitted by the Labor and Social Insurance Ministry and will remain posted until November 21.

Currently, the minimum wage is set at 830 euros, an increase of 28% compared to 2019. 

With the new minimum wage at its heart, Labour Minister Niki Kerameos is today presenting to the Council of Ministers the draft law to transpose the EU directive on decent minimum wages into national law.

The Council of Ministers has adopted a resolution to set the minimum wage at 1,077 leva, reflecting a 15.4% increase or 144 leva more than the minimum wage for 2024, announced Minister of Social Affairs Ivailo Ivanov.

According to him, the new wage will take effect from January 2025.

Overtime hours increased significantly in 2024, reaching 1.53 million in the first seven months, according to data from the ERGANI system. This rise is largely attributed to the introduction of the digital work card.

In the first quarter of 2024, labor costs per hour worked in the European Union have shown significant increases, according to the latest data from Eurostat. Across the EU, these costs rose by 5.5% compared to the same period the previous year, while in the euro area, the increase was slightly lower at 5.1%.

The Ministry of Finance anticipates a 9.3% increase in wages for Bulgarian businesses this year, as outlined in the latest Convergent Program of Bulgaria. This projected wage growth is slightly lower than the previous year's due to a decline in inflation rates.

Prime Minister Kyriakos Mitsotakis marked the increase of the minimum wage, which came into effect on Monday, with a visit to the Sun (Ilios) spice factory in Rentis, Piraeus.

The increase in the minimum wage is a positive development. The value of labor was one of those areas that took the brunt of the internal devaluation during Greece's economic crisis. 

But cultivating an economic environment that will create high-paying jobs requires much more complex and painstaking efforts.