SEV says increase in wages should be linked with productivity

The basic criterion for defining the minimum wage should be the productivity of international trade sectors of the economy, as exports currently lead economic growth and a possible decline in exports could have a negative impact on growth rates, the Federation of Hellenic Enterprises (SEV) said in a report released on Tuesday.

In its weekly economic bulletin, SEV said that exports were expected to reach 33 billion euros in 2018, while excluding fuel and ships exports they were expected to reach 22 billion euros, an all-time record. “Despite a recent positive course, however, the share of Greek exports in the global market remained almost unchanged in the last two decades, at around the same level as when the country entered the Eurozone in early 2000,” SEV said. The report said that fuel exports grew six times in the last two decades, from 1.7 billion in 2000 to 11 billion in 2018.