Minimum wage increase in Greece will not affect public finances, says Gentiloni

An increase in the minimum wage in Greece counterbalances the inflation rate without affecting public finances, EU Economy Commissioner Paolo Gentiloni said on Wednesday, speaking during a press conference to present the European Commission’s autumn economic forecasts.

“With the increase of nominal wages and a slowdown of the inflation rate, real workers’ income will turn positive in 2023 after shrinking in 2022, the Commission report said. Commenting on the report, Gentiloni said the Commission was taking into account a government decision to raise minimum wage by 9.4% to 780 euros per month. “We all know that these increases are made to counterbalance an increase in the inflation rate therefore we do not expect any upward spiral of prices and wages based on current developments in the market,” he noted.