The minimum wage in Cyprus increases to €1,000

Yannis Panayiotou, the Minister of Labour, announced a significant increase in the national minimum wage, which would rise from the current €940 gross to €1,000 gross after six months of continuous work.

The minimum wage has increased significantly, with Minister of Labour Yannis Panayiotou announcing that it would now reach €1,000 gross after six months of continuous employment with the same employer. This change follows the minimum wage's set at €940 gross.

Furthermore, the minimum salary at the moment of employment will now be €890 gross instead of the present €885 gross, as per the government's decision. An executive decree will expedite the implementation of this pay increase.

The government's commitment to steadily raising wages for employees in line with economic potential was underscored by Minister Panayiotou. "The government supports the gradual improvement of workers' remuneration that is in accordance with the potential of the economy," he said. The ultimate goal of the targeted policies is to lessen the likelihood of social exclusion for the lowest paid workers, who are protected from it by government decrees."

The Minister emphasized the government's efforts to assist individuals with lower incomes by pointing out that some 25,000 workers are anticipated to benefit from this salary increase.

It's significant that the trade unions' request for an hourly minimum wage was denied by the government. This choice, as opposed to paying workers an hourly wage, represents the government's strategy to satisfy employee needs in a comprehensive method.