Minimum wages: second increase in 2022

According to Imerisia, the plan, which is currently on the government’s table, envisages the start of the planning procedure during January.

The second increase in the minimum wage comes after a 2% increase (which was done on New Year’s Eve), bringing it to 663 euros. Since the relevant law stipulates that the process of adjusting it begins each year at the end of February, this means that the government’s goal is to get it done a month early.

Thus, if the decree addressed to the specialized research bodies, so that they carry out the preparation of the relevant reports, will be activated in the last decade of January (instead of the last decade of February), and if the pace provided for by the 2013 law is maintained, which seems most likely for now, then the second increase in the minimum wage will occur at the end of May to take effect on June 1 (instead of July 1).

The relevant law provides for specific steps and a 4-month process:

Reporting by specialized research bodies (Bank of Greece, National Statistical Office, OAED, Social Partner Institutions). Coordination. Drawing up an opinion of the committee (5μελή Επιτροπή Σοφών) of 5 people on the adjustment of salary and wages. The recommendation of the Minister of Labor to the government to increase the minimum wage.

Estimate of the amount of increase

In any case, the new increase will be above the 2% already in effect since the New Year and has resulted in a base salary of 663 euros.

According to the plan, for now, the increase in the minimum wage will reach at least the level of growth. Given that growth for 2022 is estimated at 4.5%, the minimum height for the second increase is 2.5% (2% + 2.5%), while it is likely to approach 5%.

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