Greece set to increase minimum wage by eleven percent after a decade

Greek Prime Minister Alexis Tsipras has announced that the country’s minimum monthly wage will be increased from 586 euros (670 U.S. dollars) to 650 euros (743 U.S. dollars).

This is the first rise in minimum wage since the outbreak of the country’s government debt crisis 10 years ago.

The measure, which constitutes an increase of over 11 percent, will take effect from February 1st.

Meanwhile, the government is abolishing the sub-minimum wage that applied to workers aged under 25. The 650 euros per month rate will apply to them too.

The wage increase is expected to benefit 60,000 employees in the country.

The minimum wage in Greece was reduced to 586 euros in 2012 as a means of boosting the country’s competitiveness

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